{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Premium Options...Are they worth it? (Advice from BBB)","description":" A Podcast by BBB of the Tri-Counties  A BIG thank you to Ayers Automotive Repair in Santa Barbara for supporting this podcast. Welcome to this week\u2019s edition of Your Moment of Trust!  Premiumization is when companies offer higher-end products and services for a premium price. Airlines selling both business class vs. economy seats are a classic example. Another is car manufacturers offering a standard model and one featuring heated seats and leather trim. While these two examples have been around for decades, premiumization has expanded since the Covid-19 pandemic. Now, businesses selling everything from beauty products to booze are adding new premium options and services. As a consumer, evaluating premium options can be tricky. Here are BBB\u2019s tips for weighing new premium options and ensuring you get the promised value. Tips for navigating premiumization as a shopper \u25cf Do your homework. Brands that offer premium products or services may look like luxury, but as with any purchase, doing some research is vital. Before paying a premium price, ensure the vendor is a trustworthy business with a reputation for good customer service. Look up businesses on BBB.org to review business ratings and comments from customers. \u25cf Understand what makes a product premium. Many business owners are working to maintain profit margins by offering their clients added value in a premium package. However, if a product or service claims to be premium, find out why. Specifically, what makes it better than the basic option? If a vendor can\u2019t give you a good answer, skip the premium price and shop elsewhere. \u25cf Comparison shop. To get the best deal on anything, comparison shopping is a must. This is also true when considering a company\u2019s premium offerings. Find out what similar companies offer and their price point to see if you are really getting added value for the higher price. \u25cf Watch for \u201cgreenwashing.\u201d Many companies promote premium options as more sustainable, lower waste, or all-natural. But be wary of misleading green marketing claims. The Federal Trade Commission advises consumers to look for specific information on packages and products that explain why the product is green. \u25cf Keep track of subscriptions. Many companies offer premium services in the form of a subscription. This might mean paying a monthly fee for quicker delivery, exclusive content, or access to superior products. If you purchase a subscription, and especially if you purchase multiple subscriptions, keep track of them. Review paid subscriptions regularly and cancel any you no longer need to avoid unnecessary spending. \u25cf Don\u2019t want premium? Explore new brands. While some companies are leaning into new premium offerings, others are filling the lower-price space with cheaper options. For example, make-up brands are creating new products similar to high-end options but sell for a fraction of the price. \u25cf Stick to your budget. A good budget can do wonders for your financial health, but only if you respect your spending limits. If your budget only allows you to purchase the basic version of a product or service, skip the premium offerings to keep your finances in the green. Until next time! ","author_name":"Your Moment of Trust","author_url":"http:\/\/yourmomentoftrust.libsyn.com\/website","html":"