• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / Business / Big Chain stores don’t always have the cheapest prices

Big Chain stores don’t always have the cheapest prices

November 29, 2002 By admin

An Iowa State University economist who tracks retail activity at the so-called “Big Box” stores like Wal-Mart, Target and K-Mart says those chains don’t always offer the lowest price on every item. Iowa State University economist Ken Stone says consumers tend to believe the slogans like “everyday low prices” but don’t really know the “going price” of very many things. Stone says research indicates consumers know the “going price” of about one percent of the items they purchase, things they buy with frequency like milk or dog food. Stone says, for example, Wal-Mart tracks competitors prices on what they call their “850 list” — the 850 most commonly-purchased items in their store. Wal-Mart managers have the authority to immediately lower prices on any of those items found to be selling cheaper in a competing store in the area. Stone says when you least expect it, Wal-Mart has much higher prices on infrequently purchased items. Stone says Wal-Mart’s prices on high-wattage light bulbs are much higher than local grocery stores in Iowa. Stone recently discovered a north central Iowa grocery store selling G-E soft white 150 watt light bulbs for $1.33. Wal-Mart’s standard price for the pack is $1.98.

Share this:

  • Facebook
  • Twitter

Filed Under: Business

Featured Stories

Final employee who was there at the launch of the Iowa Lottery to retire

No more USPS mail in Iowa prisons; inmates to get copies of mail

State officials warn of influx of fake prescription drugs laced with fentanyl

‘Brain-eating amoeba’ discovered in Taylor County lake

Cedar Rapids therapist’s relationship with student leads to years in prison

TwitterFacebook
Tweets by RadioIowa

Hutchinson calls Iowa State a perfect fit

Northern Iowa’s Farley touts new practice facility

First minor league game gets things started tonight at Field of Dreams site

Knoxville set to host sprint car racing’s biggest event

Iowa State basketball builds on its identity

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2022 ยท Learfield News & Ag, LLC