Stores use all sorts of tricks to get customers to buy and believe they are getting a good price. Because that’s what keeps customers happy and coming back right? When they’re happy!
There is a lot of psychology that goes into store sales- have you ever realized how Walmart’s prices never end in 9? It’s always .88, .98, .97, .96 but you will probably never find an item ending in 99 cents at Walmart.
Another trick stores will do is quantity deception. That’s what we’re going to focus on with this blog post.
At first glance, you may compare 2 sizes of the same item and see that the small version is $3 whereas the larger version is $5. Seems pretty straight forward right? I mean if you’re getting more for less than double the price it must be a good deal. Not always.
This is where as a consumer you can compare the cost per ounce. Lets say for example, that in the previous example the small version of the item is 12 oz. And maybe the large version is 18oz. When you break it down to cost per ounce the small one ends up as: 3/12= .25 per ounce, whereas the large one breaks down to 5/18=.28 per ounce.
So if you’re looking for the best VALUE (what you get for the price) the smaller one is a better deal as you are paying less per ounce than you are with the larger one.
Most stores will show the price per ounce on their price label, it’s just a matter of knowing what to look for (which most people don’t). Here is the example of where to find it:
If you don’t see a price per oz listed anywhere you can easily figure it out yourself by doing a little math. (thank you cell phone calculator!)
Just divide the price by the number of ounces. So $3 divided by 12 oz in our previous example.
You can also use this same formula to figure out the cost per item. For example, if you have 2 packages of cookies, lets say one package is 132 cookies for $4 and the other is 45 cookies for $1 which do you think is a better value?
4/132=$0.03 per cookie vs. 1/45=$0.02 per cookie
So in the cookie example it you would get a better value to buy 4 of the smaller packages.
You can also reverse this by using multiplication- to get the dollar amount spent the same you’d have to multiply the small package by 4, so 4 x 45 cookies would be= 180 cookies, that’s more than 132 cookies for the same price.
Now you have one more tool to help you shop, save money, and get the best value! I hope this explanation helped!