Oklahoma Law Forbids Black Friday Doorbuster Deals

Black Friday means big savings for bargain shoppers.  But if you live in Oklahoma those deals are
not as good as you might think.  In fact,
Oklahoma shoppers are forced to pay sometimes hundreds of dollars more per item
than shoppers in others states. 

It’s because of a law on the books that was written in
1949 called the Unfair Sales Act.  The
act says stores can’t sell products below what it costs them to buy it.  The law says the true cost of an item includes
a six-percent markup by retailers.

This is the first year all of Oklahoma will be operating
with the benefit of an opinion by the Oklahoma Attorney General on this
law.  Last year, following Black Friday
sales, Attorney General Scott Pruitt says it does apply to one-time events like
Black Friday or Back-to-School sales. 

Economics professor Dr. Jonathan Willner says Black
Friday sales are not intended to make money by selling specific items, but
rather the sales entice shoppers into the store in hopes they will by other
items.  He says the law limits the
ability of companies to market to consumers and while it was designed to help
small businesses, it could end up hurting them more. 

The law could force more people to shop online to find
the best deals, which could mean Oklahoma could lose out on sales taxes.  Dr. Willner says collecting sales tax on
internet purchases is still difficult for the state.  The tax commission says if you buy online you
are supposed to include those purchases in the “use-tax” portion of your tax
return.

Though ultimately, the potential to save hundreds of
dollars could force many shoppers to neighboring states that allow the deep
discounts.

Posted: Friday, November 16 2012, 09:39 PM CST