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Wednesday, September 28, 2011

You're bound to see this sign at your grocery store...

When you have the opportunity to buy 10 items for 10 bucks at the grocery store – should you?

You’re bound to see a sign on your grocery store shelf offering 10 of something for $10, or 6 for $2, or 3 for $5. This multiple deal approach is a common theme right now in the industry. According to John Gourville, professor of marketing at Harvard Business School, they’re trying to trigger our impulses and it’s working! In a recent experiment, items were offered in groups of 10 for $10, 5 for $5 and 1 for $1. The majority of shoppers opted for 5 or 10 because it FELT like a better deal.

The bottom line is, if you’re buying 10 items, they’re probably selling you at least 9 more than you planned for. Stick with just the item and amount you need - some stores will sell that to you at the same price you’d pay for it in the multiple deal.

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