Price tag secrets could save you money, report says
Hunting for the best price is an American pastime – but what if benign numbers and symbols on a price tag could help you save money?
There is a secret code on many price tags and signs from various retailers, and if you know some of those tips, you will save some extra money.
Target, for example, has a pricing strategy that can indicate if another markdown is likely, according to an analysis by two consumer groups.
For example, handbags on clearance – their price ends with 98 cents. But that means they could be marked down again. A price ending with 4 is a final markdown.
Edgar Dworsky of Consumerworld.org in Somerville says knowledge is power for shoppers.
“You are learning the tricks of the trade basically, if you know some of these codes and know some of the color codes and you can probably save some some money.”
The price survey found the magic number on a tag is “7″ at the gap and old navy. That means a final markdown.
At Sears, a price tag with 88 cents also means final markdown. A 97 indicates a discontinued item.
Home Depot will end a price with the number 6 or a green tag to indicate the lowest price.
“They are secret for a reason, they are really meant for internal use.”
What you do with this information really depends on your personality type.
“You almost have to be a gambling person to figure it out, when do I take the plunge? Do I take it at 50 percent because I really want that and they don’t have too many, or do I wait until 70 percent?”