Sam and Lissa's Blog 8-8
by Lissa Kreisler
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posted Aug 8 2012 12:38PM
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You may need to read this one twice. I did. It’s like one of those trick math questions but once you figure it out it does make sense. And I think we all fall for it when we go grocery shopping…
According to a new study in the "Journal of Marketing", about three-quarters of us probably overpay for groceries . . . because we can't solve the following math problem:
--Would you rather buy something where you get 50% MORE for the regular price . . . or buy the regular quantity at 50% off?
--73% of people in the study chose the first option, and bought the product that offered 50% more. But . . . that deal is actually WORSE. Here's why . . .
--Let's say we're dealing with 10 bananas for $5. In the first option, you'd get 50% MORE for the regular price . . . or 15 bananas for$5. That's 33 cents per banana.
--In the second option, you buy the regular quantity at 50% OFF, so you'd get 10 bananas for $2.50 . . . or 25 cents per banana.
--In fact, even if the discount was only 35% instead of 50%, you'd STILL be better off taking the discount than buying the extra quantity.
--It's because we've been trained to want BONUSES over DISCOUNTS. So we want the larger quantity even when it's a worse deal.
I know..I’m still confused…What about you?LOL!!!!
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Tags : People : Lissa, Sam
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