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Plans to end the dollar bill is being pushed
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<p>[QUOTE="Conder101, post: 1513516, member: 66"]Why? Marketing is competitive, especially in groceries. If someone went through and raised all their prices due to the elimination of the cent he would find his competitor would leave his alone and advertise that weekly grocery bills at his store average $8, $10, $20 or whatever lower at his store. The first guy would either have to drop the prices back down or lose business. And he would probably lose more than he gained with the higher prices.</p><p><br /></p><p><br /></p><p>I wouldn't count on that either. When they ring up your purchases they don't know if you are going to be paying by cash, check,debit, or credit card. So they will ring it up, hit total, and the register will round it up or down. You will then pay that amount no matter how you pay. I suppose they could ask you how you intend to pay before you know the total and either have it total with or without rounding, but my bet is pretty quickly everything will simply be rounded. The end result on the bottom line would be unaffected so why bother with the extra trouble.[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 1513516, member: 66"]Why? Marketing is competitive, especially in groceries. If someone went through and raised all their prices due to the elimination of the cent he would find his competitor would leave his alone and advertise that weekly grocery bills at his store average $8, $10, $20 or whatever lower at his store. The first guy would either have to drop the prices back down or lose business. And he would probably lose more than he gained with the higher prices. I wouldn't count on that either. When they ring up your purchases they don't know if you are going to be paying by cash, check,debit, or credit card. So they will ring it up, hit total, and the register will round it up or down. You will then pay that amount no matter how you pay. I suppose they could ask you how you intend to pay before you know the total and either have it total with or without rounding, but my bet is pretty quickly everything will simply be rounded. The end result on the bottom line would be unaffected so why bother with the extra trouble.[/QUOTE]
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