As consumers, we’re well aware that sometimes we get stuck being overcharged for common, everyday items. We’re at a baseball game and really thirsty, so we’re going to have to give in to the $5 soda. But when a shirt has a $50 price tag, we have to wonder: Why does this cost so much?
This morning we came across another infographic and knew it was one we had to share with you. Creditloan.com’s graphic outlines the top 10 consumer rip-offs, the products with the highest mark-ups that consumers usually purchase on a regular basis.
While looking through the list, we hope that you:
A. Nod along. (While the list reveals some pretty scary rip-offs, if you’re an avid LearnVester, you’ve already been told about most of these items and know how to avoid giving in to the prices). And,
B. Vow never to be a victim of a ridiculous mark-up ever again!
What made the list? Check out the original graphic below for the entire 10, but we’re going to outline the top heavy-hitters below.
In a recent LV Daily, we broke down the average makeup cost per use. According to the infographic, when you pay top-dollar for a designer makeup product, you’re usually paying more for the name than the worth of the product. We know it’s not worthwhile to spend loads of money on Chanel eyeliner when a basic drugstore brand will do the trick.
We never buy what we can get for free, which is why we never buy bottled water. Aside from being wasteful, bottled water is often no better quality than good-old free water. Here in the U.S., we have access to safe, drinkable water from the tap, and don’t have to give in to shelling out $2. Check out how the water in your city ranks in quality.
What topped the list? Prescription meds (Pssh, tell us something we don’t know). Generics are far more cost-effective than any brand name, so when we can, we stock up. The LV Medicine Cabinet Guide lays out exactly what you should have on hand and why.
Here’s something we didn’t know: Mattresses and furniture are among the items marked-up beyond reason. We’ve noticed how these things are always on sale. Why? Salesmen receive a higher commission (20%) if they sell the product at the manufacturer suggested retail price v. the minimum advertised price. Note to self.