Journal of Marketing Management

ISSN: 0267-257X (Print) 1472-1376 (Online) Journal homepage: https://www.tandfonline.com/loi/rjmm20

The Effect of 9-Ending Prices on Retail Sales: A

Quantitative UK Based Field Study

Jeffery Paul Bray & Christine Harris

To cite this article: Jeffery Paul Bray & Christine Harris (2006) The Effect of 9-Ending Prices on
Retail Sales: A Quantitative UK Based Field Study, Journal of Marketing Management, 22:5-6,
601-617, DOI: 10.1362/026725706777978631

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Published online: 01 Feb 2010.

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Journal of Marketing Management, 2006, 22, 601-617

Jeffery Paul Bray1 The Effect of 9-Ending Prices

and Christine Harris2 on Retail Sales: A Quantitative
UK Based Field Study

Surveys suggest that around 64% of retail

School of Services Management,
Bournemouth University
shelf prices end in 9: The preponderance of
9-ending prices is not a new phenomenon
and has been the subject of much comment
and discussion over the past 70 years.
Despite this broad interest, very few
empirically based studies have been
conducted in order to assess the effectiveness
of the practice; no quantitative study can be
found that has assessed the reaction of UK
consumers toward 9-ending prices. In this
paper we present the results of a large-scale
store-based trial in which a selection of
product prices were rounded up from the
retailers’ traditional 9-ending prices to
round-pound prices. The results from this
research suggest that the adoption of round-
pound prices may be more effective, with trial
sales increasing. The data yields an
interesting insight into the effectiveness of
the practice, and provides clear indication of
the value further research in this area would
bring.

Introduction

It is reported to be one of the great tricks of the retail trade, the use of 9-
ending prices, to make consumers think goods are cheaper than they really
are (Burns 1995). The practice of pricing goods just under a round amount
has been employed for many years and despite interest in the phenomenon

1Correspondence: Jeffery Paul Bray, Lecturer in Retail Management, School of Services

Management, Bournemouth University, Talbot Campus, Poole, Dorset
BH12 5BB, Tel: 01202 965232, Fax: 01202 515707, E-mail: jbray@bournemouth.ac.uk
2 Christine Harris, Senior Lecturer in Retail Management, School of Services

Management , Bournemouth University, Talbot Campus, Poole , Dorset, BH12 5BB

ISSN1472-1376/2006/5-6/00601 +16 ©Westburn Publishers Ltd.

602 Jeffery Paul Bray and Christine Harris

by economists and marketers alike for well over 70 years (Ginzberg 1936;
Bader and Weinland 1932), empirical evidence that price endings affect
demand is limited (Anderson and Simester 2003). The purpose of this article
is to attempt to measure any effect that the use of 9-ending prices has on
consumers within the UK retail market, through a quantitative empirical
sales trial.
On reviewing the literature in this area, it is clear that different authors
have adopted a wide range of differing terminology to describe the price
endings they were investigating. The precise nature of a number of studies
perhaps warrants subtle changes in description. Early works in this area
appear to have favoured the terms, Odd and Even price endings, with Odd
pricing being the “ubiquitous practice of expressing a price so that it falls just
below a round number” (Schindler and Wiman 1989, p. 165). Other terms
used include Psychological pricing (alluding to the psychological effect Odd
pricing is purported to exert on the consumer), Round Pound pricing (as the
term suggests) and a number of variants around a 9-ending theme. Work
adopting any of these terminologies are relevant to this study, which itself
will use two terms: 9-ending prices and round-pound prices, representing
the two possibilities under evaluation.

Literature Review

Surveys conducted in the UK suggest that around 64% of all prices end with
a nine (Daily Mail 2000), and the preponderance of prices ending in 99 has
even led one fringe political party to plan the introduction of a 99p coin if
elected (Anon. 2005). It is clear that on an economic basis alone, clustering of
prices ending in 9 would not occur. For the decision to use 9-ending prices to
be a rational one, retailers must see some practical use in the practice or
assume a higher demand will be present at these price points.
It is thought by many that ‘just-below’ pricing was conceived for
operational reasons; with the introduction of cash registers in 1879, shop
owners wanted to ensure tills were opened for each transaction to stop
dishonest assistants from pocketing cash (Hower 1943; Burns 1995).
However, opposing operational considerations are also present, with a
number of retailers adopting round-pound pricing to prevent the need to
give change, thus increasing transaction speed and reducing in-store queues
(Stiving and Winer 1997).
While these practical considerations may hold some merit, many
academics believe that ‘just-below’ pricing has a psychological effect on the
consumer, increasing their likelihood of purchasing products priced in such a
manner. A number of studies propose that consumers round prices down,
and ignore right hand digits (Gabor and Granger 1964; Lambert 1975;
 The Effect of 9-Ending Prices on Retail Sales 603

Schindler and Warren 1988) (labelled in this study as ‘rounding-down’).

Related research from an experimental psychological perspective suggests
that consumers analyse numbers from left to right, stopping their analysis
once a difference is detected; in an extreme case £39.99 may be perceived to
be £10 less than £40.00 (Hinrichs, Berie and Mosell 1982; Poltrock and
Schwartz 1984). Other authors have suggested that consumers demonstrate
a downward bias when asked to recall odd prices, an effect not present with
even prices (Schindler and Wiman 1989; Schindler and Kibarian 1993).
Both of these theories describe a lack of analysis of price endings.
Opposing explanations suggest that consumers do analyse price endings,
discerning meaning from them (Schindler 1991; Quigley and Notarantonio
1992) (labelled in this study as ‘informational effect’). Largely, they purport
that 9-ending prices imply good value to the consumer, while round-pound
price endings may suggest quality.
It can be seen that there are a number of differing theories that attempt to
explain the prevalence of such prices. In each case attempts have been made
to measure the effect the price ending has on sales, but this research has
presented inconsistent findings. Some studies have found great support for
the assertion that ‘just below’ price endings lead to greater sales, while other
studies do not find support for the concept. While much has been written on
this subject since the early 1930’s (Bader and Weinland 1932) many authors
have acknowledged that empirical evidence conclusively proving or
disproving the theory that price endings affect sales volumes is extremely
limited (e.g., Anderson and Simester 2003; Schindler and Kibarian 1996;
Holloway 1973).
The few studies that have been conducted have mostly focused on the US
market and have carried out their studies in catalogue based fashion retail
(Ginzberg 1936; Schindler and Kibarian 1996; Anderson and Simester 2003).
Ginzberg (1936) provides the earliest account of empirical price ending
experimentation. The research he presents was conducted in collaboration
with a large US-based catalogue retail operation. While the precise
methodology and findings are not well presented, it is clear that different
versions of the same catalogue were produced, utilising either ‘round’ prices
or ‘psychological prices’ (i.e. 99- or 98-ending prices; described by Ginzberg
as ‘customary prices’). Ginzberg reports that the results of the experiment
were “as interesting as they were perplexing” (p. 296), with some items
demonstrating significant increases in sales, while other items demonstrated
equally significant decreases in sales.
Schindler and Kibarian’s research (1996) was conducted in a clearance
fashion catalogue, whereby two versions of the same catalogue were
produced; a ‘control’ catalogue used ‘round’ sale prices, while a ‘trial’
catalogue utilised 9 price endings throughout which were one cent lower
604 Jeffery Paul Bray and Christine Harris

than the control prices. The research appears to present consistent findings.
An 8% sales uplift was observed as a result of lowering prices by one cent
(0.03%). These findings represented a rather implausible price elasticity of -
267 strongly suggesting that in these circumstances the use of 9-ending prices
was having a significant and positive effect on sales.
Anderson and Simester’s research (2003) was again conducted through
collaboration with a catalogue based retailer; however, the trial attracted
average sales of only 8.7 units per item questioning the extent to which any
findings can be generalised. Anderson and Simester did find a consistency of
response, with the use of 9-ending prices increasing sales. Furthermore their
findings suggest that 9-ending prices have a more positive impact on sales
when the item is new. This finding adds weight to the ‘informational’ role
that price is purported to play, with consumers being more reliant on price to
judge products on which they have little existing information.
While these studies are of interest, it is thought that they share a number
of common weaknesses.

1. The sample sizes obtained are thought to be too small for generalised
findings to be made.
2. Each research is conducted through manipulation of the prices of
fashion products in a mail order environment. While this is not
thought to be inappropriate, the commonality of these studies limits
the extent to which their findings can be applied to other areas of
retailing. Specifically fashion purchase is discretionary and evaluated
by the consumer in a different way to other products.
3. It is not thought that behavioural patterns observed in catalogue
retailing can be assumed to apply to store-based retail. Specifically,
purchasing through a catalogue implies a position of low information
where the consumer cannot touch, feel or interact with the product. It
is thought that in such circumstances the price of the product may
serve an enhanced ‘informational-role’ leading to significant
differences in the purchase decision making process. This hypothesis
is corroborated by Anderson and Simester (2003) who find that the
effectiveness of 9 price endings in attracting greater sales is enhanced
for products which are ‘new’, and as such consumers have less
information upon which to make their purchasing decision.

Excluding anecdotal reports of price ending effects, only two published

studies that have empirically tested the effect of 99 price endings in store-
based retail could be sourced. Dalrymple and Haines (1970) tested for an
effect in an American department store; they did report a coefficient of the
price ending variable that was in the direction of a sales advantage of the
 The Effect of 9-Ending Prices on Retail Sales 605

non-00 endings, however Schindler and Kibarian (1996) comment that the
coefficient found was not of statistical significance. The second study of
interest was conducted by Georgoff (1971), where again product prices were
altered in an American department store. Again, no statistically significant
sales difference could be detected through the use of 99 price endings. No
studies can be found that have empirically studied the effect of 99p price
endings in the UK.
Many authors have commented on the importance of understanding how
consumers process prices, especially the right-hand digits (Stiving and Winer
1997). The setting of prices has a direct impact on profit margins attained,
and it is asserted by much of the work discussed here that sales are also
influenced by very small price adjustments. As such, it is thought that this
area of study is of great practical use to retail managers and buyers in
helping them set their prices at the optimum level.

Methodology

It was decided at the early stage of this long-term investigation into pricing
to ignore the advice of the King in Alice’s Adventures in Wonderland, “Begin
at the beginning [...] and go on till you come to the end: then stop.” (Carroll
1865, Ch. 12). The beginning for the consumer starts with awareness, and
hopefully leads onto purchase. As there is no conclusive proof that 9 price
endings do increase store based sales it is sensible to attempt to quantify any
effect before researching the possible reasons why, or examining the causes.
If evidence could be found of significant differences in levels of demand
between odd and even pricing then the reasons for this could be explored in
subsequent studies, possibly leading to a blue-print advising retailers on the
best use of different price ending tactics.
The hypothesis of the research was formulated as:

H1: There is a difference between the level of sales attracted through the
use of 9-ending prices and round-pound prices.

Ho: There is no difference between the level of sales attracted through the
use of 9-ending prices and round-pound prices.

In order to test this hypothesis a carefully designed pricing trial was

necessary, attempting to measure the effect different price endings directly
had on sales volumes. Much of the previous research in this area has chosen
to examine the effect through trials within a direct mail format. This is an
attractive option as it enables the researcher to control many additional
factors. However, direct mail retailing only accounts for a small proportion
606 Jeffery Paul Bray and Christine Harris

of the UK retail market and findings from this media are not thought to
apply more broadly to other areas of retail. The need for store-based research
is clear, and the route that was pursued.
After some preliminary research the support of a national retailer, which
has over 400 stores across the UK, was gained. The retailer used will be
labelled, Company A. Research into present and historic materials showed
that Company A had, for at least 50 years, adopted a 9-ending pricing policy
on all non-promotional prices. This pricing tactic was also used for
promotions except in situations where a percentage discount precluded this
and resulted in a random price ending digit.
Through collaboration with Company A, two closely matched groups of
stores were identified. In one group of stores (trial stores) the prices charged
for a selection of products was increased by one penny, bringing their prices
to round values. In the remaining stores prices remained unchanged, with
sales being monitored to form a control group.
It may have been interesting to have changed a large number of prices,
but due to commercial reasons (not least the practical constraints of re-
programming EPOS pricing, changing all shelf-edge labels, and adjusting
point-of-sale materials which would be required) this was not possible and
so a small number of products were selected.
It was acknowledged that the nature of the specific products included in
the pricing trial may influence the extent to which an effect would be
detectable. As such a diverse range of products were selected for inclusion
(Table 1). Each product could be classified as a shopping product, and was
under £15 in price. These products would not be regular purchases, thus
requiring some evaluation and involvement by the consumer. However, due
to their broad appeal and relatively low cost a large number of sales units
could be monitored over the trial period. Each of the products selected had a
close alternative or substitute; this was a stipulation of the retailer to ensure
that if a large effect were to be present then sales were less likely to be lost,
rather transferred onto an alternative brand. It is thought that the presence of
substitute products at the traditional (for this retailer) 9-ending price level
could emphasise any effect, and the evaluation of the trial’s results is
sympathetic to this.
A number of further considerations were applied before products were
selected for the trial:

1. There was no planned promotional activity of the product, its

substitutes or associated products during the trial period or during
the 2 months preceding the trial. This was thought to be important as
pre-trial promotional sales are likely to impact upon sales volumes
during the trial period.
 The Effect of 9-Ending Prices on Retail Sales 607

2. All products’ stock availability was checked over the previous 12

months to ensure that each had a good stock availability history.
While a zero-stock situation was likely to affect trial and control
stores alike, it would affect the quantitative nature of the study.
3. The products were unlikely to be susceptible to changes in fashion,
and as such had demonstrated a stable sales history over the
preceding 12 month period.
4. The product is not a known-value-item, i.e. consumers are unlikely to
know the exact price of the product.

Table 1. Products Included in Trial

Products Trial Price Control Price

Polish 375ml 7.00 6.99

Polish 500ml 9.00 8.99

Polish 1l 14.00 13.99

Brake Fluid 2.5l 6.80 6.79

Brake Fluid 500ml 2.00 1.99

Brake Fluid 1l 3.80 3.79

Sponge 3.30 3.29

Puncture Outfit 1.50 1.49

Learner Plate 2.00 1.99

Blind Spot Mirror Single 2.50 2.49

A total of 12 stores were selected to take part in the trial. 6 of these stores
were unaffected, with their sales data being gathered over exactly the same
time period to act as a control batch. It may have been possible to simply
compare sales over time, however through comparing actual sales volume
with a concurrent control group, additional extraneous factors could be
eliminated, for example weather conditions, significant sporting events that
would affect consumers’ propensity to shop, or any seasonality in sales
608 Jeffery Paul Bray and Christine Harris

experienced by the products. Shelf prices, all point-of-sale materials, and

EPOS systems were all raised by one penny on the selected products for a 12
week trial period, raising the prices from the usual 9-ending odd prices to
even 0-ending prices.
Control and trial stores were carefully selected to ensure that they were
closely matched in terms of total historical sales, and the sales units
experienced on the focal products. While the aim of the research was to
provide generally applicable findings, it was decided that all stores should be
located in the South West of England, enabling the researchers to visit all
stores on a regular basis to ensure actual stock availability was good,
presentational standards were constant, and that price changes were
correctly actioned in all cases. Whilst conducting the research in this limited
geographic area has inherent limitations, it did enable the researchers to
ensure the quality of implementation.
The sales volumes in both trial and control stores were collated through
the retailer’s EPOS system, requiring no manual data collection and
eliminating any possible ‘human errors’. Staff in the trial stores were
unaware that such an experiment was being conducted, and as such the only
influence on the consumers’ purchasing decision was the indicated price.
Through conducting the trial over a 12 week period it was possible to obtain
a large volume of data.
Through designing the methodology in this way it was possible to
measure action from the customer, rather than merely desire created. If the
effect of price endings is purely psychological and not a rational cognition, as
many authors have proposed, then only a pricing trial that probes the
consumers’ sub-conscious price processing would be valid.

Results

Table 2 displays the total sales units for each of the products over the trial
period. This shows that the total sales units over the period were 3883 in the
trial stores and 3392 in the control stores. This represents a significantly
larger volume of sales data than any previous study into 9 price ending
effects, and provides the first truly quantitative assessment of the reaction of
the UK consumer.
Sales of nine out of the ten products included in the trial rose when prices
were rounded up, the exception being puncture repair outfits.
In order to evaluate the data the Chi (χ2) squared statistical test has been
applied. χ2 is a distribution free non-parametric test and uses the following
formula.

χ2=Σ(O-E)2/E
 The Effect of 9-Ending Prices on Retail Sales 609

Table 2. Sales units in Trial and Control Stores

Trial Sales
Item Trial Stores Control Stores Price Control Price Difference

Polish 375ml 608 554 7.00 6.99 54

Polish 500ml 283 243 9.00 8.99 40

Polish 1l 178 142 14.00 13.99 36

Brake Fluid 2.5l 437 310 6.80 6.79 127

Brake Fluid 500ml 419 274 2.00 1.99 145

Brake Fluid 1l 180 151 3.80 3.79 29

Sponge 286 202 3.30 3.29 84

Puncture Outfit 1163 1279 1.50 1.49 -116

Learner Plate 214 150 2.00 1.99 64

Blind Spot Mirror 115 87 2.50 2.49 28

In order to use this test the control stores represent expected values and
the trial stores represent the observed values. This was underpinned by the
assumption that the customers and stores are, in fact, the same in the trial
group as the control group, with the only difference being the price. This
assumption is thought valid due to the ensured similarities in the two groups
of stores. The value of χ2 was found to be 237.08, which is significant. The
Null hypothesis Ho ‘There is no difference between the level of sales attracted
through the use of 9-ending prices and round-pound prices’, can be rejected
at the 0.001 level in favour of H1 ‘There is a difference between the level of
sales attracted through the use of 9-ending prices and round-pound prices’.
From a mathematical viewpoint this is a neat solution, however from a
marketers viewpoint it raises some interesting issues, and this relates back to
the assumptions that have been made. Firstly a significant difference in sales
has been demonstrated, but these sales differences are not in the direction
that basic economic theory would expect, with price rises seemingly leading
to higher sales volumes. This finding serves to challenge the assumptions
often made of a ‘blip’ in the demand curve around the 9 price ending
(Kalyanam and Shively 1998; Alpert 1970).
There is not, however, unanimity in the result data, with one product
(puncture repair kits) notably demonstrating a large decline in demand as
610 Jeffery Paul Bray and Christine Harris

prices were changed. Throughout the pricing trial it became clear that the
sales pattern for this one product was atypical and so its stock position and
merchandising standards were carefully monitored to ensure that no
extraneous factors were influencing this product. Due to the quantitative
nature of this initial study, the methodology has purposefully excluded any
human interaction with the consumer at the point of evaluation and
purchase, and hence no qualitative information is available offering insight
into consumers’ propensity to buy this one product. Further research is
needed to understand why this product did not behave in line with the more
general findings before any statistical results can be accepted.

Discussion

It appears from this research that price endings have a significant impact on
sales; not, however, in the direction that basic economic theory, or the
existing literature in this area, might have suggested. A wide range of
academics, across a number of broad disciplines, have examined the
possibility that the use of 9 price endings increase sales (e.g., Bizer and
Schindler 2005; Thomas and Morwitz 2005; and Schindler 2006), however, no
previous work has specifically discussed instances of sales growth due to the
adoption of round-pound pricing. Furthermore, while previous empirically
based studies have not revealed a consensus supporting the hypothesis that
the use of 9-ending prices increases sales, each published study has either
observed highly inconsistent findings, (e.g., Ginzberg 1936), no discernable
difference, (e.g., Georgoff 1971), or support for this hypothesis, (e.g.,
Schindler and Kibarian 1996). No previous work has found the use of round-
pound price endings leading to sales increases.
A number of previous works have suggested that customers round-down
prices, or process multi-digit prices from left to right, stopping their analysis
once a difference is detected (e.g., Henrichs et al. 1982; and Schindler et al.
1988). These theories both describe a situation where customers would
perceive 9-ending prices as lower than their nominal value, thus significantly
lower than a competing product priced just one penny higher at the round
amount. Based upon these theories it is reasonable to expect sales to be
enhanced through the use of 9-ending prices. This study provides evidence
of increased sales at round-pound prices, thus challenging these assertions
and raising many further questions. It is noteworthy to remember that a
number of close alternatives or substitutes existed for each product included
in the trial. It was thought that this stipulation would exaggerate any
findings, which in this case lends further concern to the rounding down
theories.
Other published work has investigated the informational effect that prices
 The Effect of 9-Ending Prices on Retail Sales 611

have, with specific price endings communicating meaning to customers (e.g.,

Schindler 1991; and Quigley et al. 1992). This body of thought suggests great
analysis of the final digits of a price. It is purported that 9-ending prices
imply good value to the consumer, while round-pound price endings may
suggest quality. The findings of this research do not lend specific support to
these theories, nor contradict them; conversely the proposal that price
endings have a strong informational effect may help to explain the results of
this trial. It was not possible to question customers on why they selected to
purchase particular products; however, it is conceivable that customers place
higher importance on the quality of the product than the perceived value
leading to higher sales at the round-pound price. Furthermore the
informational effect may provide some explanation for the atypical sales
performance of the puncture repair kit (which demonstrated a sales decline).
Further qualitative research is necessary to confirm this link; however, it is
again conceivable that customers seeking this product were more concerned
about the perceived value than the perceived quality of the item.
Interestingly this product was the cheapest to be included in the trial, which
may lend support to this view.

Conclusion

Many authors have acknowledged that empirical evidence proving, or

disproving, the theory that price endings affect sales volumes is extremely
limited (e.g., Anderson et al. 2003; Schindler et al. 1996; Holloway 1973). This
paper provides a significant new insight into the phenomenon, with a large
trial data set which challenges much of the existing literature in this area.
The sizable pricing trial conducted has found that price endings can exert
a significant influence on the number of sales a product will attract; more
specifically it reports sales growth through the rounding up of prices
previously set with 9-endings. Nine out of a total ten products included in
the trial displayed this effect, with sales rising sufficiently to suggest a
statistically significant link between price endings and sales volumes. These
findings oppose both basic economic theory (which suggests that sales
would be lower at a higher price level), and the findings from previous
experiments into 9-ending prices (e.g., Ginzberg 1936; Georgoff 1971;
Schindler et al. 1996) which have found either no significant link between
price endings and sales volumes, or the reverse effect (i.e. sales increasing
due to the usage of 9-ending prices).
The design of this research did not involve the researchers interacting in
any way with the purchasing customers. This was necessary in order to
ensure the validity of the findings; however, it does mean that the reason(s)
behind the customers’ actions are subject to conjecture. One theory
612 Jeffery Paul Bray and Christine Harris

discussed in the literature proposes that customers discern meaning from the
price endings used, with round-pound prices implying higher quality and 9-
ending prices implying value (e.g., Schindler 1991; and Quigley et al. 1992).
This theory, describing the informational effect that price endings play, may
be useful in helping to understand the sales patterns experienced, though
further research of a qualitative nature would be necessary to test this
hypothesis.
No support can be seen through this research for the rounding down
theories proposed by other authors (e.g., Henrichs et al. 1982; and Schindler
et al. 1988). The theory suggests a lack of analysis of the full price by the
consumer, an effect that this research appears to contradict.
This research provides is a robust challenge to the established usage of 9-
ending prices; recent survey work in the UK has found that 64% of all retail
prices end in a 9 (Daily Mail 2000). The research outlined here has clear
implications for retailers and specifically managers with price setting
responsibility. The automatic assumption that the usage of 9-ending prices is
optimum appears to be incorrect in at least some cases. As such retailers
should carefully examine their pricing practices, possibly engaging in trials
with their own product ranges.

Limitations

While this study monitored some 7275 individual sales transactions it is clear
that the scope of the research is limited. Only ten products were included in
the trial rendering the findings of only preliminary importance. Further
quantitative research is necessary to confirm the findings hold true for a
wider range of products.
This research has not set out to provide an understanding of why
consumers select certain products, merely to measure the impact of different
price endings. Any attempt to provide an understanding of the phenomenon
is largely the work of conjecture and the application of previous works in this
area. Questioning customers post-purchase would have added extra
understanding to this research, however this was impractical due to the
extensive period and range of test locations used.
It is clear that consumer behaviour is highly individual and that cultural
differences can affect the way in which we buy and consider information
(Luna and Gupta 2001; Cote and Tansuhaj 1989; Aaker and Maheswaran
1997). It is interesting to note that the vast majority of publications
emanating from this field are based upon research on the American
consumer. It would be wrong to assume that findings from the US would
hold in other nations, and similarly this research may only be valid for the
UK consumer.
 The Effect of 9-Ending Prices on Retail Sales 613

One of the key stages in the consumer buying process is the evaluation of
alternatives. By definition specific shopping behaviour will be heavily
influenced by not only one company’s actions, but also by those of their
competitors. In terms of price ending, if the consumer has become
accustomed to one particular price ending, that may breed a particular
attraction or rejection toward prices differing from the established pattern.
This has specific relevance to the research presented here; due to commercial
constraints only a limited number of prices could be changed, resulting in a
small number of round prices existing in a store environment predominated
by 9-ending prices. The extent to which the contextual environment
impacted upon the results has not been addressed. Furthermore, it was not
possible to test whether these sales can be sustained in the long term.

Directions for Future Research

This research has served to highlight the complexity of retail pricing, and the
need for further research in this area. Specifically further quantitative field-
based studies are required to see if the findings from this study can be
replicated in other product categories, and in other countries where cultural
differences may contribute to differing findings. This work should
contribute further to the understanding of price ending effects enabling
retailers and managers to optimise their prices.
Once a clear pattern of behaviour can be established, then research
attention can focus on probing why such behavioural patterns exist,
attempting to bring further understanding of the specific circumstances
which render each price ending to be optimal.

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About the Authors

Jeffery Bray, BA (Hons) (Bournemouth), MBA (Stirling) is a Lecturer in

Retail Management at Bournemouth University, where he is developing
research into Retail Pricing and Retail International Market Scanning.
Research conducted to date has been of a commercial nature and he has
presented work to industry conferences, along with making regular radio,
television and print media contributions in these areas.
Prior to joining Bournemouth University in September 2004 Jeffery
worked for a number of retailers in both store and project management roles
gaining a pragmatic and practical view of all aspects of retailing.

Christine Harris, B.Tec. (Bradford), M.Sc. (Loughborough), M.B.A. (Stirling)

is a Senior Lecturer in Retail Management at Bournemouth University, a post
held since 1986. Previously she had worked at Wolverhampton University
and UMIST.
Christine has mainly been involved in consultancy for the commercial
 The Effect of 9-Ending Prices on Retail Sales 617

sector and charitable organisations, predominantly concentrating on the

researching of consumer needs. She has undertaken work for the public
sector, helping retailers in small towns provide a better service to their
consumers and to develop courses to provide training for the retail
employees of the future.
Christine is interested in all aspects of market research, and has been
involved in the design of numerous questionnaires and other research
techniques usually focused on some aspect of the retail industry. Currently
she is investigating aspects of pricing and working with town centre
managers to identify the needs of their consumers.