‘This is not an accident’: Businesses ripping off elderly consumers
Gone are the days when companies could rely on brand loyalty based on how long a customer had been with them.
An Australian business commentator, Ian Whitworth, is drawing attention to the death of brand loyalty after he discovered his own mother was being blatantly ripped off.
Despite being with an insurance company for 48 years, and having earned a 20% “Loyalty Bonus”, Mr Whitworth’s mother was still being overcharged nearly $6000 when compared with an online quote.
“This is not an accident Chris, this is not some oversight, big companies have enough data to know what’s going on here,” Mr Whitworth tells Chris Smith.
“This is a conscious decision to go, old people, disabled people, people who may not check as often, we’re comfortable to keep this kind of thing going on.”
Mr Whitworth’s message to consumers, particularly older people, is to check your services regularly to “see if you’re getting the deal you deserve.”
Click PLAY below to hear the full interview