Are WE Stupid?

Hi back to you fellow myLotter. I wondered the same thing a few years ago. So I tested the theory myself. I listed things on eBay with a flat dollar amount. And then I went back and listed similar items, just one cent cheaper. You would be amazed at how the public responds. It was a test of my own, mainly because I had a hard time believing this was why stores always price things just below the full dollar amount. But it is for certain, the public believes that the item is two dollars instead of three dollars when you list it at $2.99. I have had conversations with people, or should I say listened to people tell about the price they paid for items. Sure enough, the people who bought things for $7.99 would say that they paid seven dollars for it. Same thing with gas prices, have you noticed. I'm not sure when it originated, but we really are paying $2.539 a gallon which if you round off is 2.54. Of course, no one says $2.54, they all say $2.53. I am so glad you started this discussion and pointed out the obvious. What will we do if they ever get rid of the penny. Go to .95? LOL Have a great day!

I think the reason for this, is because the seller has the right to say that the item is UNDER $8.00, even though theoretically it is basically $8.00. A lot of times when people go to the store, if the item is X.99, they will pay the rounded out amount, and leave without waiting for the penny. guess how much more the retailer's are profiting from all of those pennies. There is a neighborhood store I go to, and whenever I buy something that ends with $.99, they do not give me back my penny. Sometimes I let it go, other times I hold my hand out for my change.