What’ s the difference between $1. 00, $0. 99, and $0. 98? More than you might think.
We’ re not talking about a couple of cents here. We’ re discussing pricing psychology, which is explained within this infographic from Wikibuy , the browser extension that finds cheaper prices at other sellers as you shop on Amazon.
Retailers use pricing tricks, depending on brain science, to appeal to shoppers’ perception of quality, value, plus cost— driving up conversion rates along the way.
With insights such as in mind (and putting them to use within your marketing campaigns), see if a person don’ t start generating much better sales results:
- Prices shown in smaller typeface sizes are perceived as— a person guessed it— smaller/less.
- When three items of varying costs are shown side-by-side, shoppers often select the one in the middle.
- Consumers tend to like round quantities (e. g., $100) when making psychological purchases and non-rounded numbers (e. g., $99. 56) for logical purchases.
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