Pricing errors are a fascinating social experiment. It starts with a website or store mistakenly pricing an item at an outrageous price. Thanks to the power of those old InterTubes, it spreads like wildfire. Before you know it, Twitter is down under the load of people tweeting their good fortune, Facebook changes their terms of service to reflect some other way they think they need to protect themselves, and sites like Woot write wry salutes. What happens next is interesting. First, the retailer pulls the offending item, causing a hue and cry from those who missed it, and a series of gloating posts from those who got in on the deal...or did they? The retailer has a choice at that moment: honor the error, or issue an apology but cancel the orders. Consumers seem to think there is some sort of legal requirement for this, but the laws are based state by state, and most do not have such protection. PR consultants debate what gets more press: reneging and getting TV coverage of the outcry (
A Tretakoff view of the world.