Hatchimals, a very popular children's toy this year, is already out of stock in many places. The normal price is about $50 to $60 each but the highest price on eBay right now is $60,000! Instead of buying the toy at an unreasonable price, the company behind the toy is encouraging consumers to wait until it's back in stock at Toys R Us, Kmart, and other traditional retailers. Here's part of the message they posted on their site:
"...This is a special season and we don’t want anyone to be disappointed, nor do we support inflated prices from non-authorized resellers. We are working on creative solutions to help kids and their parents withstand the wait. In the interim, some retailers are developing pre-sale and/or rain-check programs for redemption in January..."
Almost two months ago, we told you about Snap Inc's Spectacles, glasses that record video and send it to your phone. They cost $130 and you can only buy them from special vending machines. Only two machines have popped up and although you can watch the countdown to the next machine, they don't tell you where it will be placed.
The company's marketing plan created hype and scarcity, which is a huge disadvantage for consumers. People that have been lucky enough to buy a pair are now selling them on eBay for as much as $5,000.
To avoid some of the pressure and ridiculous prices, it may also be a good idea to start your shopping sooner rather than later. Also, make sure you do your research. What you think is a good deal could be a dangerous or defective recalled item. To learn more about scams on eBay, listen to this podcast.