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I still can not get used to this oriental bull crap. It's 3 bucks, not 2.99 9/10. It's cheap lie, trying to lure buyers into believing that it's "less expensive". Esp for me, coming from a country where prices were prices, not nine tenth decimals.
how is it 'oriental'? I am sure white americans came up with the idea first.
I still can not get used to this oriental bull crap. It's 3 bucks, not 2.99 9/10. It's cheap lie, trying to lure buyers into believing that it's "less expensive". Esp for me, coming from a country where prices were prices, not nine tenth decimals.
I wondered if saving a penny meant something in 1880. According to an inflation calculator I found online, a penny in 1880 had the buying power of about 16 cents today.
So back then a choice between one dollar and ninety nine cents would be like a choice today between something which costs $16.00 each and one which cost $15.84.
I suppose if both items were offered in a store and there was no difference other than the price, I'd but the $15.84 one. I wouldn't go out of my way to find an alternative store for the 16 cents savings.
I'm assuming it didn't necessarily mean the business did not get the penny. There were many small things which cost a penny. The convience of saving a penny might make the custormer more likely to buy a small item too.
And in many cases, in smaller areas, people bought on account. The penny would have been a saving but it would not have overly changed their debt. It would psychologically have tilted them towards the 1.99 item over the 2.00 item.
Does anyone have any studies or information on 2.95 instead of 2.99. Using a five in place of a nine. I have heard the argument that people only look at the left number as in 2 of the entire 2.99 or 2.95. But i have also heard an argument that shows that using a 5 at the end looks better to consumers than a 9 would.
Does anyone have any studies or information on 2.95 instead of 2.99. Using a five in place of a nine. I have heard the argument that people only look at the left number as in 2 of the entire 2.99 or 2.95. But i have also heard an argument that shows that using a 5 at the end looks better to consumers than a 9 would.
The reading I had done to answer the OP's question indicated that many retailers that want to highlight a sale price or "deal" would adjust the price to end with a "5" instead of a "9". The article I read highlighted this as a trend among major retailers with the next most common difference being enging in ".50" or ".77" as is often done by Wal*Mart to highlight sale items/prices. It basically comes down to the fact that our eyes are continually drawn to what is different and in a sea of ".99" items things at ".95", ".50", ".77", etc. draw our eye.
When did they start doing this in American stores?
All I know is that it's before 1972 or so. I remember back then, stores had prices like that.
I don't know when that started but I will tell you this....... It irks the heck out of me. I'm less likely to buy something advertised as 4.99 rather than 5.00 because that crap insults me.
I really think that billion of dollars are totally wasted by companies advertising in ways that just turn off consummers. I sometimes think that Madison Ave. must live in some kind of echo chamber where the only ones who like their product is THEM and that confirms to them it must be good!!!!!
I think it is psychological; the same reason people will do a u-turn in the middle of the street and line up around the block to save a couple of pennies on a gallon of gas. Even if you fill up your tank, the amount of extra gas you get or money you save is really inconsequential.
It is part of the same scam that tells you that you have to buy 10 items to get them for one dollar each. I have tried buying single items in many places, just as an ongoing test of this theory, and all but one rang the product up for a dollar, even though I didn't buy 10 of them!
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