To promote the opening of a new store, ultra-discount chain 99 Cents Only stocked a few things they don’t normally carry, and sold them for 99 cents. Things like iPods and scooters. When they opened a store in San Jose, Calif., this sale proved popular. Very popular.
99 Cents Only, the L.A.-based chain of not-quite-a-dollar stores, has come up with a novel approach to the growing losses it faces as the economy worsens: they’re raising their top-priced items to 99.99 cents.
[It is] definitely on the table. That is something we’re looking at . . . in the future for us. We’re looking at doing some experiments. Obviously one way [is that] you can start selling things for $1.05, $1.09, $1.15 and other ways. You could have more of a break between your 99 cents price point and the next price point.”