With the demise of the penny, funny reactions come around. On the news and in the online comments, we heard "tax grab, gouging, etc" all regarding the rounding system.
So how are our customers affected? This is not a sudoku puzzle!
First of all, ~90% of our products have been at a XY.95 price (not XY.99) for 3 decades now, so there is no difference.
Also, most of our products are not taxable (grape juice!), so no possibility of a tax grab!
Then we can look at the fact that this whole rounding thing is only applicable to cash transactions, so the 75% + who use plastic to pay won’t see any change.
Yes there is opportunity for some unscrupulous person to go to a lot of effort to make a couple pennies on many transactions – but the amount of effort such a thing would take would surely make it prohibitive! Imaging repricing everything in a retail store just to get a couple pennies – you’d probably lose a ton of money just trying it!
So, Mr.Shakespeare would have said: "Much ado about nothing"