The 99-cent Factor
April 11, 2007 – 6:00 pmJust last night, I was in discussion with a friend about retailers pricing their items at $0.99, $1.99 and so on. This seems to be the favourite of hypermarkets, although this will rarely work for internet sales.
When I shop at places that are notorious with such pricing trend, I am always ready with a handful of one cent coins because quite a few places I know will not give me the one or two cent change. They will claim that they have run out of coins.
Many years ago, I read that retailers in fact price their products so because by not giving the change to their shoppers, they are actually profiting this sum of money nett and a year’s worth of one cent coins could run up to a five figure profit.
My friend did not believe me, saying that any access would have been pocketed by the cashier. But in a retail environment, cashiers and sales people have to report to their superior every morning while reporting for work, the amount of money they brought and they have to have their bags checked before leaving.
Therefore, it is impossible for the staff to pocket any access money in their till.
So, if you are shopping, make sure you take along at least ten one cent coins. Don’t think that just because it is “only” one or two cents, the cashier can get away with not giving you your change. One cent is also money.
As the saying goes, “Little drops of water, little grains of sand, make the mighty ocean and the beauteous land.”
Hello and welcome to my blog. I would love to receive your comments! If you wish to be updated on new content, do subscribe to my RSS feed on your feed reader or via email. Thanks for visiting!
Related 'MUST READ' posts:
