Thread: Pricing

In a local liquor store for me back in the States, everything is marked $6.99, $9.99 on up, etc. So let's say I buy a bottle of wine marked $9.99. I give the clerk a ten-dollar bill and he doesn't hand back a penny "as a courtesy" so as not to burden me with something that won't buy a thing. But this really bugs me and I always insist on the penny, saying, "If you're not going to give it back as a rule or 'as a courtesy,' then you should be pricing the bottle at ten dollars even and not $9.99!"

In France, I remember when the franc was the legal tender. Every price was flat, 10 francs, 100 francs, etc., and I really appreciated it. Then came the euro. At first, the prices were flat as before, 10 euros, 100 euros, etc., and to a certain extent they still are in comparison to the way prices are given in the States. But more and more, there is the 9,95, 99,99, etc. creep moving in. Wonder why that is, and why it coincides with a money system scaled more closely to the US dollar.

Originally Posted by Brontosaurus

In a local liquor store for me back in the States, everything is marked $6.99, $9.99 on up, etc. So let's say I buy a bottle of wine marked $9.99. I give the clerk a ten-dollar bill and he doesn't hand back a penny "as a courtesy" so as not to burden me with something that won't buy a thing. But this really bugs me and I always insist on the penny, saying, "If you're not going to give it back as a rule or 'as a courtesy,' then you should be pricing the bottle at ten dollars even and not $9.99!"

In France, I remember when the franc was the legal tender. Every price was flat, 10 francs, 100 francs, etc., and I really appreciated it. Then came the euro. At first, the prices were flat as before, 10 euros, 100 euros, etc., and to a certain extent they still are in comparison to the way prices are given in the States. But more and more, there is the 9,95, 99,99, etc. creep moving in. Wonder why that is, and why it coincides with a money system scaled more closely to the US dollar.

No pennies in Canada anymore. All prices round to the nearest 5¢

Originally Posted by DZEC

No pennies in Canada anymore. All prices round to the nearest 5¢

The amount we pay rounds to $0.05, but prices are still listed as $X.99, etc.

Originally Posted by Cangooner

The amount we pay rounds to $0.05, but prices are still listed as $X.99, etc.

I stand corrected. I guess the pricing/ marketing folks in Canada decided to continue that deceptive practice.

Originally Posted by Cangooner

The amount we pay rounds to $0.05, but prices are still listed as $X.99, etc.

They only round prices if you pay cash but with a credit card you are billed $X.99.

Bob

I remember reading once. Somewhere...

That one of the ideas was to have a price that needed change to force your employees to enter the transaction the the cash register to make change rather than being easily able to pocket the $10 bill.

The answer is in the first reply. $49.99 sounds much lower than $50.00. It's a mind thing.

I have a Vape shop that I go to for my Vape Juice. It's so cool that they charge 20.00 for a bottle and they don't add tax. So a bottle is 20 bucks and that's it! I asked them about it and their answer was "they will figure out the taxes at the end of the year and pay it, this way you don't have to deal with the tax or the change". I figure they are making enough money already on the product that they don't worry about the tax and will pay like normal at the end of the year. Plus, they don't have to deal with change. They have a tip jar on the counter and if someone comes in and want to pay with change, it just goes in the tip jar as there is plenty of dollar bills in that jar too.

You get nothing for nothing. Your vape shop figures the tax into the price and does the mind trick on you.

Like has been said there is a whole psych on pricing.

Originally Posted by DZEC

No pennies in Canada anymore. All prices round to the nearest 5¢

Only for cash purchases. Easy enough to profit . . . when total ends in a "3" or a "4", pay with plastic for exact payment. When it ends in a "1" or "2", pay cash.

Originally Posted by Orville

Only for cash purchases. Easy enough to profit . . . when total ends in a "3" or a "4", pay with plastic for exact payment. When it ends in a "1" or "2", pay cash.

https://www.bing.com/videos/search?q...7260&FORM=VIRE

Bob