Consumer Corner: How to spot if a deal is too good to be true

Price gimmicks have become a feature of today’s life and they seem to be more and more pervasive — the right approach to spending is to take time to understand what is on offer.

"The old adage of ‘if it is too good to be true’ means it usually is. The internet is inundated with advertisements for cheap products and services but you should always check the reviews before you buy." Pic: iStock

Businesses want your money and often they will employ tactics to encourage you to part with your cash. It is easier than ever now for companies to reach their customers with online advertising taking on a life of its own through social media. Not all deals however will be genuine and some may be deceiving or what is known as a ‘price gimmick’. How as consumers is it possible to spot a deal that is too good to be true and one that is not? How do we know if it’s the real deal?

Cormac Horan, CEO of BillWinner says that on a basic level price gimmicks are used by companies to get consumers signed up to deals.