Navigation Links
Grocery shoppers who try harder to track costs do worse, study finds
Date:3/30/2010

Almost one in three U.S. households shop on a budget and one in six can only afford basic necessities. So it's no wonder that 78 percent of budget shoppers twice as many as those who shop without a budget (37 percent) try to track how much their groceries are likely to cost as they roll through the aisles.

But the harder they try, the worse they do overspending by as much as 19 percent, according to a new study, which was conducted by a Cornell professor and colleagues and is published in this month's Journal of Marketing.

In general, the researchers found that all consumers tend to underestimate how much their groceries are going to cost.

"But those who try to calculate the exact total price almost always do worse than those who just estimate approximate prices," said Brian Wansink, Cornell's John S. Dyson Professor of Marketing, who co-authored the series of studies with Koert van Ittersum of the Georgia Institute of Technology and Joost M.E. Pennings of Maastricht University, the Netherlands. Their work included two field studies and two laboratory studies.

It is low-income shoppers who try most to calculate, rather than estimate, Wansink said.

That means that those on the tightest budgets those most motivated to track their spending may be at greatest risk for spending more than their budget allows, said Wansink, forcing them to cut back in other areas, which "could cause shoppers unexpected financial distress." This chain of events can also cause these shoppers to develop negative feelings toward the store they patronize because they spent more than they planned.

The researchers also found that the most accurate shoppers based their estimates on the dominant range of price endings in their baskets such as the 99 cents in $4.99. In other words, if the price endings of most of the grocers are between $.50 and $.99, people rounded up to the nearest dollar. "When people don't round up, it leads to some unpleasant surprises at the cash register," said van Ittersum.

Wansink suggests that the retailers might help consumers estimate the cost of their groceries with cart scanners, by changing their price-setting strategies or by providing shopper trainings in the principles of decision making, statistics, and mental computation.

In the meantime, the researchers offer these tips:

  • Round each item to the nearest dollar $2.25 becomes $2 and $5.50 becomes $6.
  • If you lose track, estimate the total number of items, then guess the price of the average item and multiply them together.
  • If you really want to calculate the exact total price, use a calculator.


'/>"/>

Contact: Tom Rushmer
foodandbrandlab@cornell.edu
Cornell Food & Brand Lab
Source:Eurekalert  

Related biology news :

1. Toward explaining why hepatitis B hits men harder than women
2. Feed a cold, feed a fever: Research shows calorie cut makes it harder to fight flu
3. Sweets make young horses harder to train in Montana State study
4. Improved near-real-time tracking of 2010 El Niño reveals marine life reductions
5. When molecules leave tire tracks
6. New assay helps track termites and other insects
7. Turtles Christmas journey tracked by scientists
8. Tracking new cancer-killing particles with MRI
9. Scientists put interactive flu tracking at publics fingertips
10. Tracking down the human odorprint
11. Trackway analysis shows how dinosaurs coped with slippery slopes
Post Your Comments:
*Name:
*Comment:
*Email:
Related Image:
Grocery shoppers who try harder to track costs do worse, study finds
(Date:4/4/2017)... , April 4, 2017   EyeLock LLC ... announced that the United States Patent and Trademark Office ... broadly covers the linking of an iris image with ... transaction) and represents the company,s 45 th issued ... patent is very timely given the multi-modal biometric capabilities ...
(Date:3/30/2017)... 2017 Trends, opportunities and forecast in this ... technology (fingerprint, AFIS, iris recognition, facial recognition, hand geometry, ... end use industry (government and law enforcement, commercial and ... and others), and by region ( North America ... Asia Pacific , and the Rest of the ...
(Date:3/24/2017)... , March 24, 2017 The Controller General of ... Mr. Abdulla Algeen have received the prestigious international IAIR Award ... Continue Reading ... ... and Deputy Controller Abdulla Algeen (small picture on the right) have received ...
Breaking Biology News(10 mins):
(Date:9/21/2017)... DIEGO, CALIF. (PRWEB) , ... September 21, 2017 , ... ... earlier this month. The organization, a worldwide society of professional women with high ... venue to hold its annual dinner. , Twelve members began with an ...
(Date:9/20/2017)... , ... September 20, 2017 ... ... a leading global provider of engineering, architecture, project controls, construction management, commissioning ... cleanrooms, today announced the unveiling of the iCON™ brand which represents the ...
(Date:9/20/2017)... ... September 20, 2017 , ... RoviSys, a leading ... today the opening of an office in Taipei, Taiwan. This new location allows ... while developing new relationships in the region. Located in the Neihu area of ...
(Date:9/19/2017)... ... , ... The new and improved Oakton® pocket testers, from Cole-Parmer, stand up ... a new cap design that is versatile, functional and leakproof. They are ideal for ... water quality. , The Oakton pocket testers have many user-friendly and functional features. An ...
Breaking Biology Technology: