THE 1 RUPEE SCANDAL

THE 1 RUPEE SCANDAL

                                                                                By Muskan Jain

It is not just 1 rupee.

In this globalised international economy, where people work for huge profits or stating it simply, for earning money, paying taxes, and calling it “the White Money”.We have all been to the “shop 99”, basically shops like these puts an MRP a rupee less than multiples of hundred like 99,199 and so on; did ever wonder why 99 and not 100?

Isn’t it a trick to treat! A trick where the buyers instead of paying rupees 99 pays the entire amount of rupee 100 and treat this business of 99! Now if you are wondering what do they gain or why do they do these sort of pricing on the first place, so here is your answer, according to consumer behaviour experts, it is a trick that helps move more goods. It is a marketing strategy known as the psychological pricing or price charming based on the theory that certain prices have a psychological impact on people and thus sales or movement of items in goods.

We the people, tend to pay a round-off amount that is, rupee 100 for the item priced 99, 1000 for an item priced rupee 999; as the remaining amount of a rupee doesn’t make much difference on our pocket, but we don’t realize that every single rupee of ours makes a huge money for the seller.

Some days back, I went to a nearby store and received a bill of 299. On demanding a rupee back, I was told that no change is available but on trying hard I received something, not that one-rupee coin but a candy or a toffee.

Did I ask for that? Nah? Then why?

Stores like these gain 1 rupee directly into their pocket, and this is not just a rupee, its 1 rupee per buyer and if they have a hundred buyers a day that amounts to pocketing of rupee 100 on a daily base which later on turns to be rupees 36500 approx. per year and this is when we are stating a single business or firm and we have thousands of business who are selling the items with prices like these and pocketing lakhs or crores of rupees. And this pocketed amount is non-taxable. Also the toffees they give instead of giving you your rupee, in warming their pockets with the profit of some paisa as buying these candies in bulk costs them less than their actual price.

Basically, not all earned is the white money and it is we who, as the consumers or as the buyers, are encouraging and motivating them. It’s not just about a rupee or two but when we are stating ourselves as sensible and aware consumers it is our right as well as our duty to ask and take that coin back. And let’s make the toffee our one rupee and exchange it the opposite way by paying the bill of 201 as rupee 200 and a toffee.

Asking for a rupee back doesn’t make anyone stupid but not taking that rupee does makes you naïve! As it is said “it’s the drops that make an ocean” similarly it’s a rupee that makes a note.