Tricks of the retail trade?

By: Jill Maxwell
By: Jill Maxwell

I read an interesting article on CBS Money Watch about tricks retailers use to try to make us feel we’re getting a really good deal. I’ve noticed it even when grocery shopping. 

A good example is the “Buy one get one free” deals. How many of us automatically pick up two of the item to get the deal? A lot of times that isn’t necessary. Most stores aren’t offering a true buy one get one free. What they are actually offering is the item for half price. You can buy just one of the item and get it for half price. When in doubt – ask! 
Another trick I see at the grocery store is the “10 for $10”. Again – you don’t have to buy ten of the item to get the deal! Each item is $1, so only buy what you need!
This little item was interesting. According to William Poundstone, author of Priceless: The Myth of Fair Value and How To Take Advantage of It, prices that end with a 9, 99 or 95 lure us into thinking the item is discounted or a better deal. He calls them “charm prices”. 
The article has some other items like per-customer limits (makes you think the item is scarce), price font size and no dollar signs. You can read the whole article by clicking on this link.
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