(make sure you read all the way through step 5… it’s a doozy)
They flood the marketplace with locations and advertisements to make them look more legitimate and make you think, “They couldn’t just be ripping people off, surely people would figure it out and they’d go out of business!”
Oversaturating the marketplace with locations makes them LOOK legitimate.
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They stuff their showroom with dozens of mattresses priced between $3000 – $8000 (often up to $12,000) to make you think, “I guess mattresses are just that expensive nowadays.”
If you should happen to recall seeing an ad like “Queen Size Set for $199!” and inquire about it, they’ll take you to a pitiful mattress they know you won’t want. The next one up is $299 and it’s not hardly any better, then one at $399, $499, $599 and $699 that aren’t any good either.
Before you get to anything even resembling anything you might even consider buying, it’s $750 (and it’s still not great).
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When you find one you really like and ask, “How much is this one?” their favorite thing to say is, “Well, normally that mattress is $7500, but fortunately we’re in the middle of our annual Executive Super Sales Event (whatever that is, and there’s always some kind of “sale” going on) so today you can get it for only $4200. However, you don’t pay that today. We spread that out over time for you, so you only pay $29 a month! But, the sale ends tomorrow so that price is only good today.”
So, you end up weighing: spend $750 on something you don’t really like or $29/month for something you love. And the “sale” makes you think today is the best time to buy.
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In addition to the Executive Super Sales Event, the salesperson will usually start to give additional, time sensitive discounts. They’ll usually say something like, “Well, I’ll tell you what. If we can get this tied up today, I’ll pay the sales tax for you!” Or they’ll offer to deliver it for free, or knock off an additional hundred dollars, etc.
Note that this is always predicated with the idea that you have to lock it down today or within 24 hours or something. They know that if you leave without buying they will likely never see you again, and their commission will be lost.
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Once they’ve haggled down to a special awesome price just for you, they’ll tie the entire thing up by saying, “Hey, you are protected by our Lowest Price Guarantee and 100 Night Free Test Drive! You can get the mattress home, test it out for a while, and if you don’t like it we will take it back. And, if you ever find a better price for it, you can keep the mattress and we’ll GIVE YOU YOUR MONEY BACK! Try it out for a while. You’re only paying $29 a month during the free trial. If you don’t like it you can swap it out for something else, or if you find it for a better price, you get your money back! You can’t lose!”
What you don’t realize is the fact that their manufacturers are helping the retailer scam you by providing:
The main retail manufacturers will assign each store with a different name and label for the same mattress so you can’t find that mattress, with that name on it, at a different store. Therefore, you can’t price shop that mattress at another store. Therefore, you could not possibly find a better price, at least for that mattress with that name on it, at another store.
The main retail manufacturers that don’t provide Private Labelling will instead use Price Fixing. This means that they will not allow ANY retailer to advertise or sell any of their products below a certain amount. This ensures that if you do find the same mattress label at two different stores, the price will be similar. And that price will be ridiculously high. You will be able to get the exact same mattress from a different manufacturer at a fraction of the cost.
The main retail manufacturers spend hundreds of millions of dollars on national advertising. This advertising is designed to make you think their brand is inherently better and therefore should cost more. This could not be further from the truth. The fact is, their mattresses will always be lower quality at a higher price. We call this Inflationary Advertising… advertising designed solely to make you think their product is superior, when it’s not, so they can supposedly justify a higher price, which they shouldn’t.
1) Since you have a “lowest price guarantee” in your hands, chances are you won’t shop elsewhere because you figure the price has to be good, or they couldn’t give you a guarantee.
2) If you do shop elsewhere, you can’t find the same mattress with the same name on it at a different store. And, unless that store is Wholesale Mattress Warehouse, the prices are going to be similar, so you figure you really did get a decent deal.
3) If you do come to us and realize you paid way too much and try to get your money back, they will put all kinds of barriers in your way like, “I’ll have to talk to my manager and he’s not here today.”
4) Ultimately, if you don’t just drop it, they’ll make you produce documentation of the same mattress with the same name at a lower price, which you won’t be able to do because of the private labelling.
5) If you try to make a claim on the 100 night test drive, it will only be for store credit, you will not get your money back, and you almost always have to pay a “restocking fee” for the swap out.
6) The sick thing is that the “restocking fee” is almost always significantly higher than what the mattress actually cost the store, so they are making money on the swap out as well.