ShopRite Adopts Cash Rounding Policy Amid Penny Shortage

In a significant shift for cash transactions, ShopRite has announced a new policy that rounds prices up or down by 5 cents due to a nationwide penny shortage. This change comes after the U.S. Mint produced its final penny earlier this year, prompting many retailers to reconsider how they handle transactions involving the one-cent coin.

Effective December 8, 2023, ShopRite’s policy aims to streamline checkout experiences for customers amidst the growing scarcity of pennies. The U.S. Mint’s decision to cease penny production has left retailers facing a “national shortage” of the small denomination coin.

In a statement on its website, ShopRite urged customers to either provide exact change or opt for card payments when possible. The retailer explained, “If you pay with cash and don’t have the exact amount, we’ll round your change to the nearest nickel.” This policy primarily impacts cash transactions, while payments made through cards, EBT, gift cards, or exact change remain unaffected.

ShopRite has clarified that prices ending in 0 or 5 will not be rounded. The implementation of this rounding policy highlights a growing trend among retailers responding to the practical challenges posed by the diminishing availability of pennies. As cash transactions evolve, customers may need to adjust their payment methods to align with these new practices.

The decision by ShopRite reflects a broader movement in the retail industry to adapt to changing currency dynamics. With the U.S. Mint’s announcement of the final penny production, it is anticipated that more retailers will follow suit, adjusting their policies to reduce the complications associated with cash transactions.

As the landscape of currency continues to shift, consumers should stay informed about how these changes may impact their shopping experiences. ShopRite’s response marks a notable adaptation in a digital-first economy, where convenience and efficiency are increasingly prioritized at the point of sale.