Small Change

Question of The Day January 24, 2013 ~ A Matter of Small Change

You purchase an item from a shop for $10 and at the checkout find you are 50?short of the price. You mention this to the shopkeeper who says, ‘Do not worry about it!’ and you say, ‘No, it is only right that I pay the correct amount; I will bring it in soon!’.
Would you stick to your word no matter when?

I’m like OM.

If I said I would give them money, I would give them money, and I am much more likely to accept their offer and take the 50c as a gift.

Gifts tend to have a way of coming back. It is good advertising, and it is still within the gross margin on the product (which in most stores tends to be 20% or more {some work up to 80%}), so it works all round; we all get to feel good, and it is good for business (I’m more likely to spend more in a shop I feel happy with).

About Ted Howard NZ

Seems like I might be a cancer survivor. Thinking about the systemic incentives within the world we find ourselves in, and how we might adjust them to provide an environment that supports everyone (no exceptions) - see www.tedhowardnz.com/money
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