Banks turning your purchasing habits into ads(washingtonpost.com) |
Banks turning your purchasing habits into ads(washingtonpost.com) |
With the easy money (credit card interest, late fees, debit card interchange fees, etc) drying up, banks will explore every possible alternative to generate revenue and cut costs. Anything short of stealing money right from your account won't surprise me going forward.
My question is the following: When every company has rewards systems and 70% discounts on coupon sites, coupled with credit card rewards, discounted gift cards, manufacturer coupons and the new ability to get more discounts by adjusting my shopping patterns, how do I know what a product is actually worth?
Companies like Scvngr are trying to insert game mechanics into the offline world, but it feels like the retail sector is already way ahead in making us play their discount game.
I return to Amazon yesterday to look for a wrist rest. In the "recently viewed" section of the page, that printer is $130.
I've come to consider seriously the implication that ~30% changes in pricing have in aggregate, in the demand this gaming places upon my time and attention. One or two items, I may say "time is money" and just buy.
When the entire system starts to feel gamed, like a casino in Vegas, I start looking seriously at my options for simply opting out.
Once again, information asymmetry is being used to disadvantage the small player.