MIAMI (CBSMiami) – A price tag obviously tells you how much an item costs, but it can actually disclose a whole lot more.
“There is a secret code on many price tags and signs at various retailers. If you know some of those tips, you will save some extra money,” said Edgar Dworsky of consumerworld.org.
A survey by two consumer groups found Target has a pricing strategy which can indicate if a clearance item is likely to be marked down more. If a clearance item price tag ends with an eight, that means it could be marked down again. A price ending with a four indicates the item has been fully marked down.
Dworksy says that kind of information can be good for a shopper to know.
“You’re learning the tricks of the trade basically. If you know some of these codes and know some of the color codes, you can probably save some money,” said Dworksy.
The price survey found at the magic number at the Gap and Old Navy ends with a seven which indicates a final markdown.
At Sears, a price tag ending in 88 cents also means final markdown. When it ends in 97 cents that means the item is discontinued.
Home Depot will end a price with six or use a green tag to indicate the lowest price.
“They are secret for a reason. They are really meant for internal use,” added Dworsky.
What a shopper does with is information really depends on their personality type.
Dworsky says you almost have to be a gambling person to figure out when to make your purchase.
“Do I take it at 50-percent because I really want that item and they don’t have too many, or do I wait until 70-percent?”
Having the right information and the right strategy can really pay off for those looking for a great deal.