Woolworths moves towards rounded pricing
Woolworths has been testing rounded pricing in its supermarkets.
Instead of selling products for $1.99 or 99 cents for example, Woolworths has instead started introducing products priced up to the nearest whole number, such as $1 or $2.
The use of non-rounded pricing has typically been used by retailers to make a product appear less expensive.
A Woolworths spokesperson told Australian Food News that rounded pricing is “not a formal program as such” but that the supermarket group knows this way of pricing makes budgeting simpler for their customers.
The spokesperson said the use of rounded pricing stemmed from a focus on making the shopping experience easier and more convenient for its customers.
Customers respond well to rounded pricing
The Woolworths spokesperson said customers were responding well to the rounded pricing initiative.
“Our customers have responded well to the initiative across the store, particularly the value it has also brought across our Prices Dropped and Low Price Always range,” the spokesperson said.
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