Nudge

#6: The psychology behind effective pricing

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Jun 22, 2019
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INSIGHT

Removing Dollar Signs Boosts Sales

  • Removing the dollar sign from menus increases spending by about 6%.
  • Dollar signs constantly remind customers they're spending money, making them more cautious.
ADVICE

Use Dollar Sign to Show Deals

  • Emphasize the dollar sign when you want to highlight a great deal.
  • Dollar signs help customers quickly recognize cheap prices in value menus.
INSIGHT

Charm Pricing Still Persuasive

  • Charm pricing (.99 endings) has declined but still influences value perception positively.
  • Prices ending in .99 are 9% more likely to be seen as good value than rounded prices.
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