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Re: Apparently 99 cents Only is really a buck now? <33061929-47a8-429f-9142-c5dbf6692b23@25g2000hsk.googlegroups.com> <c1b05ad4-2f1e-4724-bc62-e071cac7de17@d31g2000hsg.googlegroups.com> <d3a5dca0-ab0f-4261-97f3-8456f07f183e@x16g2000prn.googlegroups.com> <DZMFk.3197$be.1393@nlpi061.nbdc.sbc.com>
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Steve O'Neill
Oct 6, 2008, 11:42:13 AM10/6/08
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On 2008-10-04, George Grapman <sfgeorge> wrote:
> Seerialmom wrote:
>> On Oct 3, 1:17 pm, Elliott <elliott.sto...@gmail.com> wrote:
>>> On Oct 2, 7:07 pm, Seerialmom <seerial...@yahoo.com> wrote:
>>>
>>>> Not that I'll stop shopping there but 99 cents Only (sorry...normally
>>>> I'd use the actual cents symbol but I haven't figured out how to do
>>>> alt-0162 on this iMAC G3 :P) Anyway, the store still shows the big 99
>>>> Only but I must have missed the little .99 they stuck on some of the
>>>> signs inside. The register shows .99999 and that's how they're
>>>> staying under $1...sort of. All the shelf markings, however, still
>>>> show .99. According to this USA Today story it's the first time in 26
>>>> years they raised prices:
>>>> http://www.usatoday.com/money/industries/retail/2008-09-08-99-cents-s...
>>> Interesting article, although it the price raise isn't really material
>>> - it's still fascinating to see that they did indeed increase their
>>> prices by effectively $0.01.
>>
>> If we were still in the manual cash register age they wouldn't be able
>> to. But since the registers are all computerized it allows for the .
>> 99999 entry which rounds up to $1. Of course this means we'll also
>> pay higher taxes for those in states that have a sales tax. But
>> you're right the increase is not all that important and won't empty
>> the wallet of anyone who shops there.
>
>
> For a business with low margins adding a 1 percent profit on each
> item can make a difference.
> Seerialmom wrote:
>> On Oct 3, 1:17 pm, Elliott <elliott.sto...@gmail.com> wrote:
>>> On Oct 2, 7:07 pm, Seerialmom <seerial...@yahoo.com> wrote:
>>>
>>>> Not that I'll stop shopping there but 99 cents Only (sorry...normally
>>>> I'd use the actual cents symbol but I haven't figured out how to do
>>>> alt-0162 on this iMAC G3 :P) Anyway, the store still shows the big 99
>>>> Only but I must have missed the little .99 they stuck on some of the
>>>> signs inside. The register shows .99999 and that's how they're
>>>> staying under $1...sort of. All the shelf markings, however, still
>>>> show .99. According to this USA Today story it's the first time in 26
>>>> years they raised prices:
>>>> http://www.usatoday.com/money/industries/retail/2008-09-08-99-cents-s...
>>> Interesting article, although it the price raise isn't really material
>>> - it's still fascinating to see that they did indeed increase their
>>> prices by effectively $0.01.
>>
>> If we were still in the manual cash register age they wouldn't be able
>> to. But since the registers are all computerized it allows for the .
>> 99999 entry which rounds up to $1. Of course this means we'll also
>> pay higher taxes for those in states that have a sales tax. But
>> you're right the increase is not all that important and won't empty
>> the wallet of anyone who shops there.
>
>
> For a business with low margins adding a 1 percent profit on each
> item can make a difference.
Sure, it's annoying to see the dollar stores either raising their prices
or, what is more common in my area, shrinking the package size. However,
it's only temporary; at the rate the economy is dropping into the toilet,
massive deflation should take hold any day now, and that will bring the
"dollar stores" down to "50-cent stores" :-)
W.
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