The Ever-Chnging Price of Hot Wheels

I work at a bank inside a Kroger and Kroger has conveniently placed a bin of Hot Wheel cars in front of the branch. They have changed the price repeatedly throughout the past three weeks, it ranges from a measly 79 cents to ten for ten dollars. I have noticed that the price is 79 cents when there is an abundance and ten for ten when the supply is limited in scope. I noticed though that there were more people attracted to the ten for ten than the .79 or .89 cent prices. 

Since it wasn't a randomized trial or a scientific study I have no idea why more people passed up on the better deal to wait for a higher price. More people could have walked by or there were more children in the store that day. It could be the best marketing around too. What I do know is that the price of the hot wheels seemed to have no other variable but the amount of cars in the bin. When more stock was added today the price decreased to .89 from one dollar. 

This is a classic case of supply and demand. Even in the tiniest toy there are still wide price swings when supply goes up or down. Maybe if the supply gets really low they will sell for 1.29. Paying attention to prices can signal to the consumer if they have a lot of toys or a limited supply at the moment.