Question: Dear CMR last week I saw some lights at local retail Cost U Less for $19.95. Then today I saw the same lights for $39.95. Is this price gouging?
Thanks – frustrated in GT
Answer: Dear Frustrated it's an interesting quandary and we reached out to the staff at Cost U Less to inquire if perhaps a mistake had been made. However, we were informed that the lights were previously on sale before Christmas and now are no longer on sale.
Upon closer examination of the sticker we do note that it says “reduced price” not “increased price” – so it's a rather peculiar situation as clearly this is not a reduction but an increase.
We must admit that it's rather odd that Christmas lights would be on sale before and then go up in price after Christmas! Normally prices continue to drop until left over Christmas supplies have been depleted.
In a case like this we suspect that the marketplace will correct the situation. If consumers refuse to purchase these lights at double the price now that there's no real demand for them then perhaps they will drop the price back down again. Alternatively, they can bring them back next year in hopes that all would have forgotten about the sale price!
Cayman has no consumer protection legislation so the consumers will ultimately have to exercise their power via their wallets!