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I have a theory (just a theory) that .99 pricing was introduced to prevent in house employee theft.

If an item costs $10 the till worker can pocket the money without recording the transaction. However if the product costs $9.99 the customer is due 1 cents change so the item has to be checked into the till and the purchase recorded, making an employee theft traceable as the tills will not add up at the end of the day :)

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According to my grandmother, Hess (the department store) introduced odd pricing for that very reason when she worked there while in nursing school.

Apparently they had to send the receipt and the money via pneumatic tube back to the office where they would file the receipt, make change, and return it to the register. Customers would wait for their penny, helping to keep the employee from pocketing the cash and destroying the receipt.

Hmm, it turns out that if I give exactly the required amount, I provoke theft? :)

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