No more FAKE DISCOUNTS: See what the new Trade Act stipulates

There will be no more fake discounts. Vendors will no longer be able to lure customers in with big discounts, if there are no such discounts in the store. There will be time periods for big seasonal discounts and they will be limited, and the amounts of discount will also have to be confirmed by specific prices – before and after the discount. This was the goal of the new trade act, which entered into force on Tuesday, and which clearly defines what can be called a sale, what seasonal discounts are, and what is a promotional sale. „If a product is sold at a reduced price, the vendor is obliged to clearly state both the reduced and the previous price. Sales refer to the sale of products at a lower price than the previous price, but only if the vendor stops working, if he/she discontinues operations in certain facilities or decides not to sell certain goods anymore. The vendor is obliged to physically separate the goods which are on sale from the goods sold under regular conditions,“ the Ministry of Trade stresses, the Vecernje Novosti daily reports. Seasonal discounts, according to the new regulation, are organized twice a year. They can start between 25 December to 10 January and 1 July to 15 July and last up to 60 days per season. A promotional sale is limited to 31 days, and over the duration of the sale the vendor must also display the previous and the discounted price, as well as the percentage of the discount, unless the sale lasts for up to three days. When advertising discount percentage, the highest discount percentage can be displayed if it relates to at least one fifth of the products in the vendors’ product range at each point of sale to which the sale incentive applies.

Izvor: Večernje novosti/BIZLife

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