Buy Now...Pay Never.....

The latest marketing craze, in tune with the economy and people’s fears that it will get worse or at least not better in the near future, is buy our product now and if you loose your income, it’s free or close to free. What a concept! Where were these guys last fall and early winter when I could have used them?

I’ve seen credit card companies advertise forgiven missed payments and reduced payments and interest rates. I’ve seen car companies advertise 3 months free payments and then return the car with no penalty and no impact on your credit. Now, a men’s clothing store, Joseph A Banks, is advertising buy one of our suits at our discounted price, and if you loose your income, we’ll refund the price of the suit and you keep the suit.

I haven’t read the fine print in the ad or in the sales agreement to see what you need to do to qualify. I have plenty of suits, and most places where I have worked over the past 10 years or so, including financial service companies, insurance companies, software and consulting firms, have been “business casual” and some even weekend sloppy. I can imagine, though, that there has to be some kind of qualification or limitation to this offer.

Do you somehow have to show that your job, your company or even your industry is stable in order to qualify? If you work for the auto industry or a financially troubled bank, can you still get that car or suit? How long after buying that suit do you have to work before getting laid-off or getting your lay-off notice?

A car purchase usually takes some time, but a suit is much quicker, especially with no alterations. If you get a call from your boss to come to his office for one of “those” meetings, can you ask to postpone the meeting for an hour or two and run out and buy that new wardrobe? It could, after all, be essential for getting that next job!

And, again, back to the suits, how many men still regularly wear suits to work? I guess if you are a Lawyer, a Funeral Director, work in the White House, or are a career criminal who needs to look good appearing in court or before Congressional Committees, you need to wear suits. For better or worse, most other occupations these days are more casual. So, this may actually be an attempt by the clothing store to save itself and prevent its salesmen from qualifying for a free suit of their own!