How Macy's Dealt With A Mistakenly Priced Necklace

A recent Macy's (NYSE:M) print ad certainly spoke the truth. It described as a "super buy" a $1,500 diamond-silver-and-14-karat-gold necklace on sale for $47. It was indeed a super buy — and it was also a major mistake. But Macy's didn't catch its own mistake for some time, until well after quite a few customers made good on the purchases in-store. One shopper purchased all of the remaining stock, and the associate then offered the shopper behind him the ability to buy more of the necklace and have Macy's ship it. He agreed. Before it was shipped, though, Macy's figured out what was going on. A Macy's spokeswoman, Beth Charlton, emailed a statement: "For those customers who bought the necklace at the $47 price, they were fortunate. For the gentleman you spoke with, he was not so fortunate. We are sincerely sorry he was disappointed and unable to buy the necklace at the $47 price for his wife." So Macy's policy when it makes a mistake is essentially "You pay your money and you take your chances"? No apology? No explanation of what happened? No attempt to make the shopper feel better, such as an apology gift certificate? One promise in an ad and another by an associate. Yes, it was based on a mistake, but it was the chain's mistake. If Macy's think the mistake was costly based on how many customers got the promised necklace, wait until the retailer sees the results of those angered customers who didn't. The story.

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