Speaking of fraud, I’m looking forward to your next TSLA post! Oops, have to kick the can down the road for a spell with the M3. At least the last rocket launch did not blow up.

I just wrote Sift an email will be interesting to see what they say. The ‘investor’ typically doesn’t operate at this level. I had made a suggestion previously to ‘the investor’ about a company (Cloudflare) and they ended up doing the idea and I didn’t even get a bumper sticker or thank you.

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You should connect them.

BRC
http://www.themusingsofthebigredcar.com

By the way the wholesale fraud is a thing that Fred’s company Sift (who I do work for btw) could fix with their machine learning. It’s an opportunity for them actually. This is all simple if you figure out (and share) who the people abusing are.

I have always wondered about that policy when I have seen it on the wall at LL Bean (there is one near where I live/work same shopping center as a (sniff) apple store).

Anyway it’s obvious that they built that into their pricing but now they are finding it’s a problem. But the problem is not the scammers it’s an organization that doesn’t have enough people with common sense to refuse returns that are prima facie abusive and obvious. And no balls. Or doesn’t want to take any heat or bad pr for doing the right thing. So it’s just easier to change the policy. Legally I question if they can make a ‘contract’ and do differently with past purchases. Class action for anyone harmed? Not a stretch. On the other hand if they did this ‘quietly’ less of a chance for that. And how much LL Bean shows up at yard sales anyway? I don’t believe the numbers but I do believe people are taking advantage. But something doesn’t make sense in the way they are playing this.

Also the purpose of ‘lifetime’ guarantees is simple. It’s to get you to buy more than you would buy if there was no guarantee. Remember when there were small shops and ‘you break it you buy it?’. Like if you bought a stereo from ‘mr small shop owner’ and tried to return it you were toast. Because it came out of his pocket. Then big box came with idiots working there and all the sudden you could return for any reason. Then as people took advantage they started to tighten that down. Remember the first credit card purchase guarantees? They covered everything until people took advantage which was obvious would happen.

Personally I think they handled this the wrong way. One of the reasons I bought things from LL Bean is because of that policy even though I haven’t really used it. So I pay more for the ‘insurance’ of being able to return.

The truth is they are under price pressure from all of the people who sell similar items where the quality is not as good. Wasn’t a problem years ago but is now (blame Amazon).

You know cars have policies but they are enforced by the dealer and the dealer has to be paid back from the manufacturer. So the resistance is built there and they won’t fix things that they won’t get paid for from the mfg. So there is a way to do this right.

By the way I am a big complainer at restaurants if the food isn’t right or really anywhere. My wife always cringes but in the end I get what I want and I feel that for every person like me there are 30 people who say nothing and the restaurant gets away with shoddy food or service.

I’m an LL Bean fan.

I’ve long thought that had a good and nearly unique connection with their customers: To nearly everyone else interested in the “rag trade”, LL Bean and its products are booooooring!!! Okay!!! Then that situation filters out the customers who, from some excitement of the moment, want some throw away fashion frock they just saw on some TV show and lets in customers who don’t like the time, effort, and money of rag trade shopping and, instead, want really good products that will last a long time and, then, move on to doing something else with their time, money, and effort.

A few weeks ago, I counted: I have six LL Bean white polo shirts, extra tall, with a left, breast pocket good enough to wear in public and a dozen or more with holes, tears, etc., good for yard work. Okay.

LL Bean has had to change their return policy because of the wholesale fraud which has cost them $250,000,000 in the last five years.

http://themusingsofthebigredcar.com/ll-bean-people-ruing-things/

Sheesh!

BRC
http://www.themusingsofthebigredcar.com