Woolworths’ round-number shift
The strategy is a move away from the traditional retail model to sell products for 95 and 99-cent price points.
Woolworths’ buying and merchandise director Steve Donohue said the change, which has already been phased in over time, was not part of a “formal program”.
“But we know pricing this way makes budgeting simpler for the customer,” he said in a statement on Thursday.
“At Woolworths, we’re focused on making the shopping experience easier and more convenient for our customers.”
Competitor Coles has also embraced round-number price points in recent years.
It introduced the $2 milk in 2011 and $1 bread in 2012, although many of its other products still sell for prices that end in 95 or 99 cents.
A Coles spokesman said in a statement on Thursday the retailer aimed to “provide customers with simple price points to help add up the cost of shopping and manage weekly budgets more easily”.
“Across the store, Coles’ prices have been falling for seven years and we remain committed to continue lowering the overall cost of a weekly shop for our customers.”