Comments on: Bad Pricing: Epidemic or Fluke? http://www.elharo.com/blog/finance/2006/02/16/bad-pricing-epidemic-or-fluke/ Ranting and Raving Tue, 02 Dec 2008 15:29:48 +0000 http://wordpress.org/?v=2.6.3 By: Elliotte Rusty Harold http://www.elharo.com/blog/finance/2006/02/16/bad-pricing-epidemic-or-fluke/#comment-458 Elliotte Rusty Harold Fri, 17 Feb 2006 11:01:25 +0000 http://blog.elharo.com/blog/new-york/2006/02/16/bad-pricing-epidemic-or-fluke/#comment-458 The FTC and NIST <a href="http://www.ftc.gov/reports/scanner1/scanners.htm" rel="nofollow">looked into this</a> in 1996, and found: <blockquote>Overall, the results of the study are fairly positive for consumers. The inspection results showed that <em>the total number of undercharges exceeded the total number of overcharges</em>. Of the 17,928 items checked, 2.58 percent scanned lower than the posted or advertised price and 2.24 percent scanned higher than the posted or advertised price, for a total error rate of 4.82 percent. The total dollar amount of undercharges also exceeded the total dollar amount of overcharges. Nonetheless, consumers who are being overcharged are not likely to be mollified by the knowledge that other consumers are being undercharged. </blockquote> The FTC and NIST looked into this in 1996, and found:

Overall, the results of the study are fairly positive for consumers. The inspection results showed that the total number of undercharges exceeded the total number of overcharges. Of the 17,928 items checked, 2.58 percent scanned lower than the posted or advertised price and 2.24 percent scanned higher than the posted or advertised price, for a total error rate of 4.82 percent. The total dollar amount of undercharges also exceeded the total dollar amount of overcharges. Nonetheless, consumers who are being overcharged are not likely to be mollified by the knowledge that other consumers are being undercharged.

]]> By: Tim http://www.elharo.com/blog/finance/2006/02/16/bad-pricing-epidemic-or-fluke/#comment-457 Tim Fri, 17 Feb 2006 07:30:17 +0000 http://blog.elharo.com/blog/new-york/2006/02/16/bad-pricing-epidemic-or-fluke/#comment-457 Around here there is a voluntary "Code of Conduct" (or something like that) where any retailer saying they follow the code is required to give you the item for free if you point out a scanning error (or else they aren't following the voluntary code, not sure if there are any repercussions). Places like Safeway say they follow it, and I have heard of people getting items for free. Something like this might be a good way to force retailers to be more strict about scanning errors, hit them in their profits, that will make them take notice. Around here there is a voluntary “Code of Conduct” (or something like that) where any retailer saying they follow the code is required to give you the item for free if you point out a scanning error (or else they aren’t following the voluntary code, not sure if there are any repercussions). Places like Safeway say they follow it, and I have heard of people getting items for free.

Something like this might be a good way to force retailers to be more strict about scanning errors, hit them in their profits, that will make them take notice.

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