Shopping and Gifts

Shopping is not considered a recreational activity of psychological interest. Shopping involves selection and purchase."Window shopping" is an English phrase meaning to look into glass windows of a shop for entertainment and imagine purchasing items without actually purchasing, possibly just to pass the time between other activities, or planning a purchase. "Screen shopping" is derived from this term but applies to online retail stores . The pricing technique used by most retailers is cost-plus pricing. This involves adding a markup amount to the retailers cost. Another common technique is manufacturers suggested list pricing. This simply involves charging the amount suggested by the manufacturer and usually printed on the product by the manufacturer. In Western countries, retail prices are often so-called psychological prices or odd prices: a little less than a round number, e.g. $ 6.95. In Chinese societies, prices are generally either a round number or sometimes some lucky number. This creates price points.Often prices are fixed and displayed on signs or labels. Alternatively, there can be price discrimination for a variety of reasons. The retailer charges higher prices to some customers and lower prices to others. For example, a customer may have to pay more if the seller determines that he or she is willing to. The retailer may conclude this due to the customer's wealth, carelessness, lack of knowledge, or eagerness to buy. Price discrimination can lead to a bargaining situation often called haggling — a negotiation about the price. Economists see this as determining how the transaction's total surplus will be divided into consumer and producer surplus. Neither party has a clear advantage, because the threat of no sale exists, whence the surplus vanishes for both.