Fake Discounts are on the rise | Keerthi History

Summary

This video script discusses the convenience of online shopping and the evolution of e-commerce in India, highlighting the ease of access to a wide range of products. However, it warns of the deceptive practice of fake discounts, where products may be marked up before a sale to create an illusion of savings. The script introduces the 'BK' app as a solution to check price histories and compare prices across platforms, ensuring consumers get the best deals. It emphasizes the importance of being a smart shopper and not falling for these marketing tactics, providing a step-by-step guide on how to use the app to save money on online purchases.

Takeaways

• 🛍️ Online shopping has revolutionized the traditional shopping experience, making it easier and more accessible.
• 📱 The speaker uses three e-commerce apps for different categories of products and highlights the convenience of mobile shopping.
• 💄 The availability of online shopping allows access to products that might not be locally available, such as a specific brand of lipstick.
• 🎉 The script mentions various types of discounts and sales, indicating the prevalence of promotional offers in e-commerce.
• 👀 The importance of checking the price history of products is emphasized to avoid falling for fake discounts.
• 🔍 The BK app is introduced as a tool to check price history and compare prices across e-commerce platforms like Amazon and Flipkart.
• 📉 The script provides an example of a significant price difference for a Samsung Galaxy Note 8 on different platforms and its price fluctuation over time.
• 🚫 It warns about the practice of fake discounts where sellers increase prices before sales to offer seemingly large discounts.
• 💰 A UK-based brand, boohoo, is mentioned as an example of a company settling a lawsuit for fake discounts, illustrating the seriousness of the issue.
• 📊 Statistics are cited to show that a significant number of people believe they are saving money during sales, but many deals may not actually be discounts.
• 🛒 The speaker advises using the BK app to be a smart shopper and to avoid wasting money on fake discounts, providing instructions on how to install and use the app.

Q & A

What are the three types of e-commerce apps mentioned in the script?

The script mentions three types of e-commerce apps: one for dresses, one for household things, and one for makeup items.

What changes have occurred in the way people shop due to online platforms?

Shopping has transitioned from a social celebration to a personal and convenient activity that can be done with just a few clicks on a phone, allowing people to buy a wide range of products from toothpaste to TVs and ACs.

How has online shopping impacted the accessibility of products?

Online shopping has made products much more accessible, enabling people to purchase items that may not be available locally, such as a Mac lipstick, without having to travel to specific cities.

What is the issue of fake discounts discussed in the script?

The script talks about the issue of fake discounts where sellers may increase the price of a product before a sale to make it appear as though a significant discount is being offered, even though the sale price might be higher than the product's original price.

What is the role of the app BK in addressing the issue of fake discounts?

BK is an app that allows users to check the price history of a product and compare prices across e-commerce platforms like Amazon and Flipkart, helping them to identify genuine discounts and avoid falling for fake discounts.

What was the outcome of the lawsuit against the UK-based fast fashion brand Boohoo regarding fake discounts?

Boohoo agreed to pay $197 million to settle the lawsuit, which means that 9.4 million US customers who bought from Boohoo under the impression of fake discounts would be eligible for a payout.

According to the script, what percentage of people believe they are saving money while buying things on offer?

The script states that almost 71% of people believe they are saving money when buying things on offer.

What is the claim made by Lisa Matten wheny Basset regarding Black Friday deals in 2022?

Lisa Matten wheny Basset, a manager at a price comparison site, claims that one in ten deals on Black Friday in 2022 was fake, and 25% of the products were more expensive during sales than on normal days.

How can users get the product price information without exiting Amazon or Flipkart apps using the BK app?

After installing the BK app, users can open Amazon or Flipkart, search for any product, click on share, find the BK icon, and click on it. This will display the product's price history, comparisons with other e-commerce websites, and similar products without leaving the Amazon or Flipkart app.

For iPhone users, how can they use the BK app to check the price history of a product?

iPhone users can copy the product URL from the e-commerce site, open the BK app, paste the URL in the search bar, and view the price history, price comparison, and price drop chances.

What is the final call to action for the audience regarding the BK app?

The final call to action is for the audience to check out the link in the video description to install the BK app and start saving money on their online purchases.

Outlines

00:00

🛍️ The Evolution of Online Shopping and the Issue of Fake Discounts

The script discusses the transformation of shopping from a social activity to a convenient online experience. It highlights the ease of access to a wide range of products, including luxury items like Mac lipsticks, which were previously difficult to obtain without traveling to specific cities. The speaker emphasizes the impact of e-commerce on the shopping habits of Indians, turning occasional shopping into a daily routine. However, the script also addresses the serious issue of fake discounts, where products may appear to be on sale but are actually priced higher than before, misleading consumers into thinking they are getting a deal. The use of an app like 'BK' is suggested to check the price history and compare prices across platforms like Amazon and Flipkart, ensuring consumers make informed decisions and avoid falling for deceptive discounting tactics.

05:03

📊 Utilizing Price Comparison Apps to Save on Online Purchases

This paragraph delves into the practical use of a price comparison app, 'BK', to ensure consumers get the best possible price for their online purchases. It provides a step-by-step guide on how to install and use the app, including a clever trick for accessing product price information without leaving the Amazon or Flipkart app. The script explains how to share a product from these e-commerce platforms and use the 'BK' icon to get a detailed price history, comparison with other websites, and similar products. For iPhone users, the process involves copying the product URL and pasting it into the 'BK' app for the same information. The speaker encourages viewers to use the 'BK' app to save money and make smart shopping decisions, providing a link in the description for easy access to the app.

Keywords

💡E-commerce apps

E-commerce apps refer to digital platforms that facilitate online shopping for a variety of products. In the video script, the speaker mentions having three such apps for different categories of goods, such as dresses, household items, and makeup. These apps are central to the theme of online shopping's convenience and the challenges of identifying genuine discounts.

💡Sales and discounts

Sales and discounts are promotional strategies used by retailers to attract customers by offering reduced prices for a limited time. The script discusses various types of discounts such as '40 to 50% off', 'flat 30% off', and 'buy one get one free', illustrating the common practices in e-commerce to entice consumers.

💡Online shopping

Online shopping is the process of purchasing goods or services over the internet. The script emphasizes how online shopping has transformed from a celebration to a convenient, everyday activity, making a wide range of products accessible with just a few clicks.

💡Purchasing power

Purchasing power refers to the amount of goods and services that can be bought with a unit of currency. The script mentions that the purchasing power of Indians has been steadily increasing, reflecting the growing economy and the ability of consumers to buy more online.

💡Fake discounts

Fake discounts are deceptive pricing strategies where products are marked down from an inflated original price, giving the illusion of a significant saving. The video script warns viewers about this issue, using the example of a Samsung Galaxy Note 8 and how its price history can reveal if a discount is genuine.

💡Price comparison

Price comparison involves checking the prices of the same product across different retailers to find the best deal. The script introduces an app called 'BK' that helps consumers compare prices and avoid falling for fake discounts, highlighting the importance of informed shopping.

💡Price history

Price history is the record of how the price of a product has changed over time. The script uses the term to explain how consumers can use the 'BK' app to check the price history of products to determine if a current discount is actually beneficial.

💡Smart shopping

Smart shopping is the practice of making informed and economical purchasing decisions. The video encourages viewers to be smart shoppers by using tools like the 'BK' app to avoid fake discounts and get the best prices on their online purchases.

💡Black Friday

Black Friday is a significant shopping event that occurs the day after Thanksgiving in the United States, known for its major sales and discounts. The script mentions that fake discounts are particularly prevalent during big sales periods like Black Friday, Christmas, and New Year.

💡Price manipulation

Price manipulation refers to the practice of artificially inflating or deflating the price of a product to create a false impression of a bargain. The script describes how sellers may increase product prices before a sale to offer a 'huge discount', which is actually a deceptive practice.

💡Settlement

A settlement in this context refers to the resolution of a lawsuit, where the accused party agrees to pay a sum of money. The script cites the example of the UK-based brand Boohoo agreeing to a $197 million settlement for a fake discount lawsuit, underscoring the severity of the issue of deceptive pricing.

Highlights

Introduction of a challenge with three e-commerce apps offering various discounts.

Nostalgic reflection on the traditional shopping experience compared to modern online shopping convenience.

Online shopping's impact on accessibility, especially for products not available locally.

The transformation of shopping from an occasional activity to an all-time habit due to e-commerce.

The issue of fake discounts in online shopping and the need for consumer awareness.

The introduction of the BK app to check price history and compare prices on e-commerce platforms.

Example given of significant price differences for the same product on different e-commerce platforms.

Explanation of how sellers may use fake discounts to mislead buyers into thinking they are getting a deal.

Case study of a UK-based brand settling a lawsuit for fake discounts, emphasizing the seriousness of the issue.

Statistic indicating that a majority of people believe they are saving money with offers, contrary to reality.

Insight from a price comparison site manager on the prevalence of fake discount sales, especially during major sales periods.

Advice on using the BK app to avoid falling for fake discounts and ensure better pricing on purchases.

Instructions on how to install the BK app on Google Chrome and use it for price tracking.

Tutorial on integrating the BK app with Amazon or Flipkart for in-app price history and comparison.

Method for iPhone users to access price history and comparison through the BK app using product URLs.

A call to action to install the BK app and start saving money on online purchases, with a link provided in the description.

Transcripts

let's do a challenge right now I'm

opening my phone and I have three

e-commerce apps in my phone one for

dresses one for household things and one

for makeup items and there's some sort

of sales going on in all three apps 40

to 50% off flat 30% off up to 50% off

buy one get one free you name it they

have it going shopping used to be a

celebration back then we would go

together with the family of friends we

would try out different things different

shops and finally would buy one or two

things which we like the most but but

now it's just a click away take your

phone see the pictures see the review

and order whatever you want right from

toothpaste to TV and AC you can buy

everything online today this is

definitely not a thing we should be

complaining about it has definitely made

our life easy and it has given access to

a lot of things which we could not get

our hands on otherwise for example if I

have to get a Mac lipstick there is no

way I can get it here I either have to

go to Chennai or Bangalore but because

of this online shopping today I can get

whatever I want sitting at the comfort

of my house so online shopping is

definitely making things much easier

much accessible also we can see that the

purchasing power of Indians has been

going steadily but also shopping which

once used to be an occasional thing now

became an alltime habit e-commerce has

definitely revolutionize the way we shop

however behind all this Glamour and

glitch there's a serious issue that

needs to be addressed fake discounts

have you ever checked the price of a

particular product you're thinking to

buy on similar shopping apps more

importantly have you ever checked the

price of that particular product on the

same shopping app one or two months

before because sometimes you may end up

paying more money for the product you

think you're buying on discount that's

why we have BK you can check the price

history of a product and compare the

prices while shopping on e-commerce apps

like Amazon and flip cart for example

this Samsung Galaxy Note 8 cost

65,67 rupees on Amazon and the same

phone cost 7400 000 rupees in Flipkart

imagine 8,000 rupees difference on the

same phone now you may think buying on

Amazon would be a better option but

before that you need to check the price

history of the phone to know whether we

can get it at even more cheaper price or

not the same phone which cost 65,000

rupees now was sold for just 28,000

rupees 3 months back imagine 40,000

rupes difference and the app also tells

you the average price of the product

which is 40,000 rupees for this phone

not only that the app also suggest you

whether it's a good time to buy or not a

lot of times what we see as a discount

is not really a discount restaurants

shopping malls and online stores give

you discounts to get your attention

because for middle class people price is

a crucial buying reason and for online

e-commerce business the competitor is

just one click away so a lot of times

sellers mislead buyers with discounts in

several ways if you see carefully few

mon months before the sales day the

seller would gradually increase the

product price so that he can give you a

huge discount on the sales day and still

not end up in loss this is what we call

a fake discount and it's a real deal a

UK based fast fashion brand boohoo

agreed to pay

$197 million to settle a lawsuit of fake

discount so 9.4 million us people who

bought from boohoo believing the fake

discount would be eligible for this

payout settlement that's how serious and

systematic the issue is a study States

almost 71% of the people believe that

they're saving money while buying things

on offer but the reality is completely

different according to Lisa Matten wheny

Basset a manager who works in a price

comparison site the fake Discount sales

tactic is particularly prominent on big

sales periods such as Black Friday

Christmas and New Year she says one in

10 deals on Black Friday in 2022 was

fake and 25% of the product are more

expensive during sales than on normal

days now we can't completely avoid

online shopping we need things and

they're delivering it right at a

doorstep that too with a discount the

only thing we need to do now is to make

sure that we don't fall for fake

discount and get the product at the

better possible price so using an app

like byad Kake could be a savior in that

case be a smart Shopper shop mindfully

with badk don't waste your hard earned

money now how do you install this search

for badk on Google Chrome with the

keyword badk prices tree now after

opening the badk website click on

install app and there's a clever trick

for getting the product price

information without exiting the Amazon

app or flipcart app after installing the

badk app open Amazon or flip cart and

search for any product then click on

share check all the icons and find badk

icon it looks like this click on it and

badk will then display the products

price history comparisons with other

e-commerce websites and similar products

all without leaving Amazon or flip cart

what's great is that it will show you

the price history on Amazon only if you

want to check the price history for

another product simply tap the back

button and continue browsing on Amazon

for iPhone users just copy the product

URL open the badk app paste it in the

search bar you'll see the price history

price comparison and price drop chances

and finally don't forget to check out

the link in my description to install

the badk app and start saving money on

your online purchases