JCPenney’s campaign to revitalize the brand, which includes celebrity commercial star Ellen DeGeneres and a redesigned logo, will continue this week with items priced at round numbers, like $20 instead of $19.99 this week. So what’s the big idea behind how retailers price items? Of course, every tag is aimed at convincing you to buy that item. Let’s check out some other common tricks. [More]
The rational consumer, like the black unicorn, is a myth. Otherwise how could you explain this study that showed that customers buy more when the last number on the pricetag is nine, even if the item is more expensive? [More]
Stephanie sent us this photo from her local Walgreens. Have they been taking lessons in pricing from Target? Sure, MSRP is is merely a suggestion, but this is a rather obvious case.
While shopping at a Florida Target, Nancy spotted two prices for identical two-packs of baby food, one for 87 cents and the other for $1.09.
Matt bought a used game from Gamestop, and there were two prices on the case. Instead of being charged the lower $14.99 price, the cashier charged him $19.99. Matt only noticed this after he left the store, so he returned and asked for an adjustment. The cashier refused, then tried to remove the cheaper tag in front of Matt. Update: Matt spoke with a District Manager and got a full refund.
A few weeks apart, in different stores, readers Spencer and Sean spotted the same error on CVS shelf tags. Printing error? Zoned-out employees? Maybe our assumptions are all wrong, and it’s an innovative new pricing strategy.
A bill is advancing through the Massachusetts legislature that will allow supermarkets to leave off item price tags and instead force customers to rely on electronic scanners spaced throughout the store. Although prices will still need to be displayed on store shelves for most items, you’ll have to rely on your memory and your faith in the store’s scanner system at checkout. John Hurst, the president of the Retailers Association of Massachusetts, “said consumers will benefit in the form of lower prices and shortened lines once stores no longer need to devote resources to item-by-item pricing.” But kjd aa- [thump]