Giant Eagle Grocery Stores Buy Pennies For 2 Cents Each

The eagerness with which the largest grocers (who operate in a cutthroat business with tiny margins) jumped on this tells you that the rounding makes economic sense.

1. I think that so far it's only Kroger of the top grocers ( Walmart is not).
2. I can't figure out what economic benefit there could be. In principle, totals ending in 1,2, 6 and 7 get rounded down and the store loses money when they make change. Totals ending in 3,4, 8 and 9 get rounded up and the store makes money. So, that sounds like a wash to me, unless there is something in the math that I'm missing.

I just think they are trying to get ahead of the inevitable, i.e. put the policy in place before there is a problem (i.e. that they can no longer get 1 cent coins from the bank.)

Time to get into the 21st century and join the rest of the world!
Most every other country in the world knows basic rounding works
Very well .

Fixed.

I realize the rounding only affects cash transactions. Anyhow, still a bit puzzled by "making economic sense," but probably I just misunderstood.
I imagined a discussion in a Kroger boardroom where the question was posed "what will be the significance of ending cent production," and somebody said "well, before long we won't be able to give exact change on cash transactions, because the banks will run out of pennies" and the obvious solution was proffered that would avoid a future disruption.



Makes perfect sense. Fewer accountability mechanisms = more latitude for dumb decisions.