I stumbled upon this article from Yahoo News and it’s about Chipotle. To sum it up they have basically been rounding to the nearest nickel in many high volume markets.
“the chain uses rounding in a few “high volume” markets, including New York, New Jersey and some locations in Boston. The idea is to reduce the time cashiers spend doling out pennies, to keep the lines moving quickly.”
An example is:
“On the first, dated July 13, the nine items added up to $32.93. There was $2.31 in tax. The total should have been $35.24, but next to the ‘total’ line on the receipt, it said $35.25. The next receipt, with the same sale date, showed a subtotal of $8.64. The tax was $0.60, so the grand total should have been $9.24. But no. With Chipotle-style math, the total was $9.25.”
Well I don’t know about you, but I could care less. Even though I’m trying to live graduate school on the cheap, a few pennies here and there don’t really matter. Plus I probably eat at Chipotle only once a month. So at most I’m losing 24 cents a year! According to Chipotle it ends up being a wash, but who knows, maybe they’re making more money?