Monday, December 3, 2012
44 in the price of retail goods?
I remember when stores used to end the price of products .99 to make you think you were saving a buck. Why do we see many stores now ending the price of products in .44 ? if anyone works in the retail industry I would be very interested in why retail stores changed their practices and how they came about this decision? Stores and manufacturers do not randomly pick prices,there is always a reason behind what they do. As a student of graphic communications we use everything from color to the shape of bottles influence people's buying decisions. We shape mouthwash bottles in the same shape as a liquor bottle and we use the color red to entice passion and hunger. These subliminal messages have been documented scientifically and proven to work. So why would a company begin pricing products that in in $.44? believe it or not changing the price of the product costs a great deal of investment. You have to change labels and advertising to do this and it's not cheap. You even have to hire consultants who are very expensive to help make these decisions. And why did the people I have talked to not have an answer and try to avoid the question?