Why Price is 9.95 | 26 Jul 2009
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Go4Expert Founder
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| 26Jul2009,19:55 | #1 |
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Many times we have pricing like 9.95 or 99.95 and one reason is it looks lesser to the customer but what was the main reason for this practice to start.
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~ Б0ЯИ Τ0 С0δЭ ~
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| 26Jul2009,20:10 | #2 |
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It's a practice to force employees to open the cash registers instead of simply pocketing the bill
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~ Б0ЯИ Τ0 С0δЭ ~
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| 26Jul2009,20:17 | #3 |
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It started at Bill’s Texaco in Waco, Texas during a price war. I say it’s a much older management technique to force employees to open cash register drawers for each transaction (making simply pocketing a bill more obvious).
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Go4Expert Founder
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| 26Jul2009,22:01 | #4 |
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Quote:
Originally Posted by SaswatPadhi |
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Mentor
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| 26Jul2009,22:52 | #5 |
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These are employees who are smart enough to figure out that they could just pocket bills, but not smart enough to figure out that they need to carry a bunch of 5 cent pieces?
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Invasive contributor
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| 27Jul2009,00:58 | #6 |
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Hmmm and i thought it was cause 99.95 and 100 were in different tax range, thus to be in lower range they keep it like that...
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Mentor
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| 27Jul2009,01:01 | #7 |
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I thought it was because £39.95 is as good as £40, but £40 looks more expensive - shopper psychology - it's "UNDER FORTY QUID" - well, no, it IS forty quid.
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Invasive contributor
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| 27Jul2009,01:49 | #8 |
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yeah that is also a good reason..
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Go4Expert Member
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| 27Jul2009,07:58 | #9 |
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Yea...In US most of the prices tags are like..9.99 and 29.99...I mean most of the people dont care about the extra cent to add to make ot round figure..but still it goes on like this..
I say ...A figure like $99.99 looks lesser than $100.00.. (...my guess..lol) so it appeals buyers that its less than $100 ..hence they are tagged as such.. |
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~ Б0ЯИ Τ0 С0δЭ ~
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| 27Jul2009,13:37 | #10 |
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Quote:
Originally Posted by shabbir  BTW, Nice answer(s) xpi0t0s. |