Have you ever tried buying your mobile phone through Amazon. At least, you would have tried using Amazon to do some research, right? In that case, you will be knowing how the screen will look. like and what are its functionalities. Keeping this in mind, let explore the great Amazon EMI Trap.
What’s the first thing that catches your attention on this screen? Let me guess. It's ₹3966 rupees, right? Now you may be wondering, how can an iPhone be priced so affordably? Even the most inexpensive non-smartphone phones these days cost more than 6,000 bucks. Then you notice the smaller font "per month" and "24 months" on a lighter shade. It doesn't stand out unless you focus and now you realise that ₹3966 is the monthly instalment you need to pay for 24 months to purchase this iPhone.
The original price of ₹80,990 is listed below, which clearly not something they want you to pay attention to. Welcome to the debt trap of middle class. Who doesn't have ₹3966 to spare when they earn a salary of ₹20,000, right? You are the exact target audience for companies like Flipkart and Amazon. A person with an income of ₹20,000 can now miraculously afford an iPhone costing ₹80,990. If you had purchased any iPhone through EMI, you are not alone, 70% of iPhone buyers in India opt for EMI. Since you have seen this now, do not fall for this trap.