President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin.
In Germany there are some stores like DM that round down to the next 5 cent. It was also cheaper for them to adjust all prices from .99 to .95 than to pay for all the handling of the 1 and 2 cent coins. They still accept them though.
I think that might just be a by-product of it. I remember back in a college marketing class when they first started implementing it at Walmart and they were one of a few examples of retail companies using the pricing structure already.
Stretching my memory the others were a regional dollar type store, a regional electronic place that would have sales for like $88.88, and a number of car places where they would use 1s, 0s and 8s to make the price look cheaper. Like $10,888.00.
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In Germany there are some stores like DM that round down to the next 5 cent. It was also cheaper for them to adjust all prices from .99 to .95 than to pay for all the handling of the 1 and 2 cent coins. They still accept them though.
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I think you’re right. Walmart does x.88 pricing because the x.99 pricing started losing psychological effectiveness.
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I think that might just be a by-product of it. I remember back in a college marketing class when they first started implementing it at Walmart and they were one of a few examples of retail companies using the pricing structure already.
Stretching my memory the others were a regional dollar type store, a regional electronic place that would have sales for like $88.88, and a number of car places where they would use 1s, 0s and 8s to make the price look cheaper. Like $10,888.00.