When's a sale not a sale? When it's split pay!

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historymystery

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Feb 16, 2015
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Well, it had to come, didn't it? Just spent a couple of minutes watching Angeline present a so-called "sale". Every couple of seconds, she says "it's gold under £100". Er, no Angeline, it isn't - it's items of jewellery costing (as far as I've seen so far) well over £100 each - it's only each split pay instalment that is under £100. Sale, what sale?:mysmilie_51:

This channel gets more schlocky by the day, sure sign the downward spiral is approaching.
 
Yes, totally agree.

To be honest, the Split Pay thing has always puzzled me. I understand why it's an advantage to a customer in the sense of affordability but there must be an bigger advantage to the retailer. I can only think of two things.

Either it allows the retailer to inflate the price (however marginally) because the split pay amounts make it seem affordable still or it's because they can account for the unpaid balance as a creditor on their Balance Sheet.
 
I've often thought the flexi payments or easy pays just allows them to inflate their prices and draw more into buying the really expensive stuff.They are all doing it now.
They always highlight the first payment as though its a good deal.

On Gems the other day I heard a presenter ,Jessica describe their optic quartz items as " museum quality"Whatever that means .
I think they are losing the plot ,but all jewellery channels seem to be struggling .
 
Absolutely right, there has to be an advantage to the channel - the Bennetts are definitely hiking up the prices, there is no comparison to what you would have paid a year or 18 months ago and the quality has plummeted. One thing I'm pretty sure of - the Bennetts will make sure they aren't losing money by offering split pay - in spite of all the carp spouted, they are not in business to make a loss. Angeline has just told us that a 9K gold ring, with under 2 grams of gold in the shank and small Alexandrite stones in it, "would sell for £500-£600". Yet more schlocky selling.
Yes, totally agree.

To be honest, the Split Pay thing has always puzzled me. I understand why it's an advantage to a customer in the sense of affordability but there must be an bigger advantage to the retailer. I can only think of two things.

Either it allows the retailer to inflate the price (however marginally) because the split pay amounts make it seem affordable still or it's because they can account for the unpaid balance as a creditor on their Balance Sheet.
 
I heard that! When it comes to the baloney stakes, Jessica is right up there talking out of her......rear. They've made themselves look silly already, by previously claiming that they only sold genuine gemstone jewellery set in precious metal - next minute they are flogging perfumes and candles.

I've often thought the flexi payments or easy pays just allows them to inflate their prices and draw more into buying the really expensive stuff.They are all doing it now.
They always highlight the first payment as though its a good deal.

On Gems the other day I heard a presenter ,Jessica describe their optic quartz items as " museum quality"Whatever that means .
I think they are losing the plot ,but all jewellery channels seem to be struggling .
 
Or pearl bangle set in stainless steel.

Oh cripes! It's a Diamond Split Pay Special next...
 
Ok, so there you go. Almost proof that split pay benefits the retailer in some way. Pic attached but website now offers 40% off but only on items marked as having split pay available.
CROP_20170812_114041.jpg
 
When you look at their prices now, and compare them to about 18 months ago, they have sky rocketed. A piece of Sarah Bennett jewellery that would have gone for £29.99-£39.99 is now over 100 quid, and this is reflected across the whole of their ranges. My jaw dropped with shock looking at the prices during their so-called "sale" last week - what sort of business model puts up prices by 70% or more (in some cases, by over 100%), especially at the current time, when salaries are not increasing? It seems a recipe for disaster to me, split pay or no split pay - after all, people can't eat jewellery! Their jewellery used to be good value stuff, reasonably priced and way below what you would pay either online or the High Street, but that was years ago now, and the fact is that if you are looking to spend a bit of money, there are retailers out there selling better quality and cheaper.
Ok, so there you go. Almost proof that split pay benefits the retailer in some way. Pic attached but website now offers 40% off but only on items marked as having split pay available.
View attachment 14423
 
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