99 Cent Stores Jack Up Prices
Going Like Sixty — September 10, 2008 — Business
References: latimes
Chinese crap costs more, so does Korean, Vietnamese and other merchandise. That being said, 99 cent stores are feeling the pinch, so they will raise their prices to 99.99 cents.
The 99 Cents Only store is making their first ever price increase at all 277 stores. Taking a tip from the gasoline retailers who have the extra 9/10 cent added on, 99 Cents Only took it a little further to adding 99/100 cents.
This will generate $12 in new revenue and the CEO will probably get a bonus that ends in $.99
The 99 Cents Only store is making their first ever price increase at all 277 stores. Taking a tip from the gasoline retailers who have the extra 9/10 cent added on, 99 Cents Only took it a little further to adding 99/100 cents.
This will generate $12 in new revenue and the CEO will probably get a bonus that ends in $.99
Trend Themes
1. Increased Cost of Retail Merchandise - The rising cost of Chinese, Korean, Vietnamese, and other merchandise is forcing retail brands to increase their prices.
2. Price Increase in Discount Stores - Discount stores like 99 Cents Only are raising their prices from 99 cents to 99.99 cents.
3. Inflation Impact on Consumer Shopping Habits - The inflation-driven price increase may lead to changes in consumer behavior and shopping preferences.
Industry Implications
1. Retail - The retail industry is facing disruption as rising costs compel brands to adjust their pricing strategies.
2. Discount Stores - The discount store sector is experiencing pricing challenges due to increased merchandise costs.
3. Consumer Goods - Inflationary pressures and price increases in retail merchandise are affecting consumer goods industry dynamics.
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