Anchor High to Soar Profits

Implementing a pricing strategy that includes a high-ticket item can significantly enhance overall sales and profitability. By incorporating an excessively priced option into the menu, businesses can create a psychological anchor effect, making core offers appear more affordable in comparison. This tactic not only increases the perceived value of main offerings but can also boost their prices relative to the anchor. In one case, a weight loss business observed that customers purchased the newly added high-priced offer more frequently than the core product, resulting in a tripled profit. Additionally, this strategy alleviates the fear of raising prices, as it allows entrepreneurs to test higher price points without the expectation of selling the anchor item, ultimately revealing that a portion of customers is willing to buy the most expensive options available.