MILWAUKEE – Through the advent of online commerce platforms like Amazon, Cyber Monday has become as powerful of a day for businesses as Black Friday. And a consumer expert is giving out advice to shop safely online.
Michele Reinan with the Wisconsin Department of Agriculture, Trade and Commerce Protection (DATCP) says the Informed Consumer Act will make some changes this year.
“This is a new piece of federal legislation that went into place this year,” said Reinan on Wisconsin’s Weekend Morning News. “It should add some protections for consumers if they are shopping online from third party sellers. If you’re at a platform that promotes third party sellers, those third party sellers should now provide contact information for high volume sales.”
A third party seller is an individual who uses Amazon Marketplace, for example, to buy and resell items to consumers. Reinan says this new function supports consumers because it allows for communication with the seller they plan to do business with. Reinan says those are not the only differences buyers can expect on online platforms this holiday season.
“These platforms should also give consumers a way to report suspicious conduct; that can be things like fake products or receiving something different than what was promoted,” said Reinan. “If you do not see those items on the platforms, I would go elsewhere to do your shopping.”
A typical sales technique where Reinan encouraged caution is a ‘buy now pay later’ plan. Reinan said it is important for consumers to read the fine print because those plans do not have the same protections as a purchase made on a credit card.
“It’s similar to a loan,” explained Reinan. “Sometimes they are interest free, sometimes they are not. You really need to understand how it’s going to work if you don’t make all the payments.”
Reinan encouraged every consumer to create a budget before starting their holiday shopping, and to contact DATCP if they are suspicious of fraud-like activity.