Tesco misprice discussion area part 11

VeryTrying_2

bagand96 wrote:

The thing is what I am trying to get across is that whatever the SEL says, the inventory value would be 1.05p. All of the Tesco systems would have that product in as 1.05. If Tesco were to do a stock take, it would be counted as 1.05, if they were to waste some of those products it would count as 1.05/unit against the store.

Tesco were always going to sell that item at 1.05 on that day, and were always going to make 45p profit. The fact that the SEL says £1.00 doesn't mean the tills are overvaluing it, means the SEL is undervaluing it. When the buyers increase the price then that extra profit has been forecast. So when the extra 5p goes through the tils it has already been acounted for. The buyers aren't to know that Joe Bloggs in Price Integrity is a lazy ****.

I just don't think Tesco's profits are inflated by it. Its the same when there are undercharges Tesco don't loose any money.

Neither of your last two sentences is right. An overcharge increased Tesco's profits, an undercharge loses them money.

You are trying to apply the Tesco internal Head Office/individual store relationship to Tesco's published accounts. The two are different things. In Tesco's accounts, when Tesco does a stocktake the item is valued at what was paid for it (unless it has reduced in value, when it can be valued lower). It is not valued at £1, nor at £1.05 nor even any other sales figure. It is valued at 60p.

We seem to be confusing the way in which Tesco measures the individual profitability of an individual store (which has nothing to do with anybody else), and the published accounts which produce £2b+ profit in a year. I am discussing the latter ie the REAL accounts. And in the REAL accounts, Tesco are making extra profits from overcharging!

VeryTrying_2

*Tony* wrote:

OK, call me Mr Suspicious about this gracious offer from Mr Kelly. Whats going through my mind are a couple of thoughts on this ... first of all if Mr Kelly wanted to find out how many people have been banned at a local level that HO have never heard about, this is an excellent way for him to collect the names and addresses (and tie them to the clubcard info) of people who can then have their spending patterns looked at. If he then can see who spends a lot in many different stores, and can then tie that info backwards to R+R refunds in that store on the same day, maybe even collect CCTV footage if its recent enough and still stored. A golden opportunity to collect a lot of the people who they are missing right now because they are below the radar and all they had to do was create a stink in banning you, removing your cards, and then reinstating them.... letting you then go back to the forum to offer the good news and prompt us to mail him with our details. Of course having done that, it wouldnt be too much to then go and look at other large figure R+R events at other stores nearby based on timeframes to travel.... which might show on CCTV the same person and a different name given for the refund.

Yeah I am maybe paranoid, or maybe I give them more credit than they deserve this time

You're NOT paranoid, and it's better to be prepared. I'm like you in that I've only met store-level staff and haven't been overly impressed with the display of their grey matter. But surely, surely there must be SOME bright sparks at HO?

Anybody thinking of taking up Mr K's offer should think it through first.

stuffit

Does anybody have an email address for Kevin Kelly?

Clasics

I agree with *Tony*, be very careful giving all your details to Mr Kelly.

wayne_rooney

stuffit wrote:

Does anybody have an email address for Kevin Kelly?

father.christmas@northpole.com

or , if that doesn't work try

kevin.kelly@tesco.co.uk

Googlies_2

Clasics wrote:

Come on, keep up. :rolleyes: If the price on the shelf is less than the price on the pack and it goes through the checkout at the higher price, an offence has been committed. Ask B&Q if that's true (It did cost them rather a lot of cash a few years ago).

Well I dont know anything about B&Q issues, but if you are able to cite the law or court case I will take a look.

But back to the question re: tesco, what law are you referring to regarding "illegally mispriced" ?

Twinny99

Could somebody help please - I know the answer is more than likely here somewhere so apologies in advance...

Is the Tesco policy the same for online orders as it is instore? I was incorrectly charged for something I'd ordered in an online shop and wondered if the same rule applied as if I had bought it in the store and gone to the customer service desk for a refund and keep the item???

Thanks

MyUserNamesTaken

Googlies wrote:

Well I dont know anything about B&Q issues, but if you are able to cite the law or court case I will take a look.

But back to the question re: tesco, what law are you referring to regarding "illegally mispriced" ?

The Consumer Protect Act 1987.

Misleading Prices

The Consumer Protection Act 1987 makes it a criminal offence to give consumers a misleading price indication about goods, services, accommodation (including the sale of new homes) or facilities.

It applies however you give the price indication - whether in a TV or press advertisement, in a catalogue or leaflet, on notices, price tickets or shelf-edge marking in stores, or if you give it orally, for example on the telephone. The term "price indication" includes price comparisons as well as indications of a single price.

Following a consultation, in October 2005 the DTI published a revised Code of Practice for Traders. The new guidelines have been updated to cover new ways of trading including the Internet and factory outlets.

Contact your local authority trading standards department if you have a query about enforcement of the law or how the law might apply in a particular case. Contact DTI on policy issues only, not enforcement or individual cases.

It is a criminal offence under the Consumer Protection Act to give misleading price indications. Misprices are misleading price indications.

You want some evidence of the Act put into practice:

http://www.thisismoney.co.uk/news/article.html?in_article_id=405243&in_page_id=2


Here's a little snippet I found amusing:

As a recent article in the Observer claims, 'supermarket pricing is a spectacular black art'.[76] From ensuring that the store layout leads you past expensive and 'fresh' items first, to making price comparisons difficult, the supermarkets know how to fleece the pockets of the unsuspecting shopper. Next time you are in a supermarket ponder this, what's at eye level? The cheapest or most expensive item?

In October 2001, it emerged that Tesco had, in fact, raised its prices in the weeks before it began its new one hundred million pound price cutting campaign, so as to maintain its profits.[77] Only half of these price cuts were published on its web-site where it was shown that more than 10 per cent had only fallen by a penny and a further 5 per cent by 2p. Safeway lodged a successful complaint with the Advertising Standards Authority (ASA) contesting Tesco's claim to be 14 per cent cheaper. It believes that Tesco's claim to be have cut prices by a billion pounds over five years has been offset by price rises on other ranges. The ASA also deemed the 'Pocket the difference at ASDA, always' ad campaign misleading.

In Asda's case, it had only been a couple of months since they it was fined for misleading customers over price cuts at a superstore in Hellesdon, Norwich. This complaint was brought by Tesco. Who else, after all, but the supermarkets would have the resources to monitor these price changes?[78]

In January 2002, Tesco was again accused by the Observer of a 'price cutting' scam. The Observer claimed that Tesco's website showed price increases on 1,750 popular items since Christmas. Tesco claimed these were special offers ending.

Tesco has time and resources to make sure other supermarkets aren't breaking the law, but doesn't do enough to make sure it gets the prices right in its own stores.

Deedee73

points on your forthcoming nuptials!

Duder

Points on nuptials!?!?! Wooo hooo! Praps I will say yes now, I mean, if there are points to be had! :rotfl: :rotfl:

Starb

Anyone planning on going there later I spotted 3 little misprices. I won't post on here in case it's being monitored, but pm me if you want details.

I didn't check the phones/books/dvds/meat/etc whilst there so these may also be worth look.