Tuesday, November 2, 2010

Borders' New 'Low Price Promise' Fades in the Fine Print

DailyFinance: "... based on what DailyFinance has learned, store-level employees are not exactly thrilled by what executives at the company's Ann Arbor, Mich., headquarters have cooked up just in time for the holidays: a new 'customer satisfaction initiative' that promises to match the lowest price available elsewhere at a brick-and-mortar store. But busy customers should pay attention: The price matching offer carries a number of notable caveats. Naturally, the statement about the program from Borders President Mike Edwards is puffed up with platitudes. 'We're the first and only major bookseller to introduce a program like this that truly puts all consumers' needs first,' he said. 'In a competitive environment, the differentiators for consumers are value offerings combined with an exceptional in-store experience. Our customers have no reason to shop anywhere else.' That sounds nice, until one discovers the limits on the offer, which poke large holes in Edwards' closing sentence. ..."