“…the average person treats a price ending in .99 as if it were 15 to 20 cents lower.”
The tendency is called left-digit bias, when the leftmost digit of a number disproportionately influences decision-making. In this case, even though the real difference is only a penny, research shows that, to the average person, $4.99 seems 15 to 20 cents cheaper than $5.00 – which results in selling 3 to 5 percent more units than at a price of $5.00"
How is this a shower thought?
Seems like the type of thing I’d randomly think of in the shower
(Also, where else would it go?)
“I wonder why most prices end in 99. If I were a retailer I would use whole numbers to make things easier”
Is that better? Is it dumbed down enough? The alternative is to not post and contribute to the community.