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If It Doesn't Say '40 Percent Off,' How Can It Be A Deal?
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The post-mortem on JC Penney's grand experiment with a no-coupon, no-sale, everyday-low-prices strategy is that people want to be fooled by "sale" prices. Walmart is an anomaly; People prefer when stores jack up "regular" prices and then "discount" them. If an item is worth five bucks, people would rather think that it's worth seven and there's two dollars off than to just see it listed at $5. People don't want fair prices, they want to think they're getting a deal. (New York Times)
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