What happens to all our $0.01...??? and Coinstar
Jan 3rd 2008, 4:35 am
#16
BE Enthusiast
Joined: Nov 2007
Location: Brisbane
Posts: 453
Re: What happens to all our $0.01...??? and Coinstar
I heard at home (UK) that the 9.99 type prices were so that the shop assistant was obliged to register your 10 quid in the till and give you change. If you just gave her 10 quid and walked away, he/she might put it straight into his/her pocket
Jan 3rd 2008, 4:49 am
#17
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: What happens to all our $0.01...??? and Coinstar
However now that $9.99 = $10 cash, I think it's more to do with psychological pricing. Either that or Aussie shop assistants are more trust worthy than their UK counterparts
Jan 3rd 2008, 5:01 am
#18
BE Enthusiast
Joined: Nov 2007
Location: Brisbane
Posts: 453
Re: What happens to all our $0.01...??? and Coinstar
Jan 3rd 2008, 7:47 am
#19
Fighting my corner
Joined: Aug 2005
Location: Adelaide, South Australia
Posts: 11,948
Re: What happens to all our $0.01...??? and Coinstar
Despite this, vendors still follow the standard psychological trick of pricing their goods at $*.99, secure in the knowledge that many people will feel they are getting a bargain.
Exceptions to this rule are found in a number of commodities (such as petrol), which derive their price from the international market, and are always calcuated to the lowest currency denomination.
Jan 3rd 2008, 8:43 am
#20
What Time is Love
Joined: Oct 2007
Location: Mu Mu Land
Posts: 1,132
Re: What happens to all our $0.01...??? and Coinstar
Copper coins (1c & 2c) were removed from our currency in 1991. Prices are now rounded up or down to the nearest 5c.
Despite this, vendors still follow the standard psychological trick of pricing their goods at $*.99, secure in the knowledge that many people will feel they are getting a bargain.
Exceptions to this rule are found in a number of commodities (such as petrol), which derive their price from the international market, and are always calcuated to the lowest currency denomination.
Despite this, vendors still follow the standard psychological trick of pricing their goods at $*.99, secure in the knowledge that many people will feel they are getting a bargain.
Exceptions to this rule are found in a number of commodities (such as petrol), which derive their price from the international market, and are always calcuated to the lowest currency denomination.
Jan 3rd 2008, 8:50 am
#21
What Time is Love
Joined: Oct 2007
Location: Mu Mu Land
Posts: 1,132
Re: What happens to all our $0.01...??? and Coinstar
'Beauty, I'm getting a right (cash sale) bargain here'.
"That's $10 please". (I've added the please even though you never get one
)"Oh, you mean $9.99 don't you?"
