Why 99p? Why not £1?
Don't you ever wonder ? Some of the products prices end up with 99p ,so why not £1? Most of the consumers are price sensitive and they are tempted with the price tags. 99p strategy is very old trick but the retailers still feel hard to change. According to the researcher , by lowering pizza price from 8 euros to 7.99 euros boosted the sales by 15%.On the other hand , according to virgin Money ,in 2005 Britons discarded or stashed away £133m unwanted coppers. You see there is a verdict that is it for sales or is it for to make it easier to track cash flow. It forces cashier to open the till and give the change .Once the till was open, it registered as a sale. Furthermore , Dr Jane , lecturer in psychology at the University of Glamorgan, stated we "tend to put numbers in categories like 'under £5' or 'under £6' - rather than them representing a value. Shoppers are aware of what is going on, but don't respond to it because they don't thin...