Over the past year, the four largest UK grocers have been swapping their 99-pence price tags for round-pound sales. In bad economic times, consumers may just be willing to fork out an extra penny at the till. But why?
Everyone is familiar with the ubiquitous 99-pence price tag. Just last year, a report highlighted the sales tactic as a successful way to draw in customers.
But in the past few months, shoppers may have noticed some rounder prices at the store.
The "big four" of supermarkets, Asda, Tesco, Morrisons and Sainsbury's, have increased the number of £1 promotional price tags 150% over the past year. This compared with a 6% increase in their general promotions, according to a report compiled on behalf of industry magazine the Grocer.
The "big four" of supermarkets, Asda, Tesco, Morrisons and Sainsbury's, have increased the number of £1 promotional price tags 150% over the past year. This compared with a 6% increase in their general promotions, according to a report compiled on behalf of industry magazine the Grocer.
Tesco has designated a "pound shop" area in its stores and Asda features 7,000 £1 lines.
So what's the reasoning behind the shift?
So what's the reasoning behind the shift?
NOTE: DONT FORGET TO COMMENT ABOUT IT!!!
-Nathan133
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