$4.99 Rotisserie Chicken and the Economics of Loss Leaders | Money Moves with Jill Schlesinger
Summary
Costco sells rotisserie chickens for $4.99, a price that stays low despite rising costs. This pricing strategy is an example of a "loss leader," where a product is sold cheaply to attract customers who may buy other items. The discussion also includes a person who reached his savings goal and considers changing his lifestyle.Key Facts
- Costco's rotisserie chicken price is $4.99.
- The price remains low even though overall costs and inflation are rising.
- Selling an item below cost to bring in customers is called a loss leader.
- Loss leaders help stores attract shoppers who may purchase other products.
- The episode features Jill Schlesinger and Mark discussing this pricing strategy.
- A caller named George has saved enough money by age 37.
- George is thinking about changing his lifestyle after meeting his savings goal.
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