6.01- Shopping Options Effective Shopping Practices

6.01- Shopping Options PLAN BEFORE YOU SHOP COMPARISON SHOP SHOP WISELY

6.01- Shopping Options PLAN BEFORE YOU SHOP Decide whether to shop at home or in a store When there is a choice, decide whether to purchase goods or services Check reliability and services of stores and distance- sellers Decide when to buy

6.01- Shopping Options Shop in stores or at home? Let’s review the pros and cons of shopping in a store Let’s review the pros and cons of shopping at home

6.01- Shopping Options Buy goods or services? Sometimes you have an option of whether to purchase goods or services –Example 1: Buy a ready-made prom gown, or pay someone to make you a gown? –Example 2: Buy a new motorcycle or pay someone to fix up the used cycle you have?

6.01- Shopping Options Buy goods or services? Goods have clearly identified prices, while prices of services may be harder to determine. Quality of goods can be reviewed and rated; quality of services is best reflected in performance.

6.01- Shopping Options Check reliability and services Only respectable businesses back up their claims Services –Methods of payment accepted –Return/refund policies –Knowledgeable sales staff –Special services Gift wrap Special orders Delivery Repairs/maintenance

6.01- Shopping Options Decide when to buy... Buy now with cash or credit Save for purchase at a later time When possible, wait for a sale Avoid impulse buying

6.01- Shopping Options COMPARISON SHOP Products Research the product Compare products Understand warranties Talk to people who have made the same purchase Check the Internet

6.01- Shopping Options Research the product Do your homework --- become familiar with the product Talk to people who have made the same purchase Check Internet for consumer information, magazines, other publications

6.01- Shopping Options Compare products Brand names, store brands, and generics Size of package Other product features

6.01- Shopping Options Understand warranties Implied warranty – product is in proper condition and does what it is intended to do –Example: Hair dryer blows and dries hair

6.01- Shopping Options Understand warranties Written warranty – goes beyond implied warranty by providing a written guarantee –Full warranty – according to law, must provide all 5 standards stated by Magnuson-Moss Act –Limited warranty – provides 1-4, but not all, of standards in Magnuson- Moss Act Standards of Magnuson-Moss Act Warranty extends to any owner of product, not just original owner No cost for warranty Nothing to do to receive warranty Guarantees refund or replacement Does not limit time period of implied warranty

6.01- Shopping Options COMPARISON SHOP Services Identify a person(s) or business(es) that provide the desired service Check qualifications Interview; ask for demos/samples Check references Check licensing, bonding, insurance Pay close attention to agreements

6.01- Shopping Options Pay close attention to terms of agreements Estimate --- a total expected cost, in writing, for performing a service Work order --- gives authority to the provider to perform services Contract --- a legally binding agreement between a service provider and a consumer Service warranty --- a guarantee of quality standards for performance

6.01- Shopping Options SHOP WISELY In Stores Consider the value of time and energy, as well as money Handle money, cash, and credit cards with care Get receipts and sales slips; file carefully Deal fairly and honestly with others in the marketplace Report unfair/dishonest practices to the proper authorities

6.01- Shopping Options SHOP WISELY At Home Know name, location of seller Understand what you are buying Compare prices with other retailers Only buy from secure sites Check seller’s privacy policy Pay by credit card Find out delivery date, return and refund policy Check product promptly when delivered