Which digits? How high? Best layout? A checklist of pricing tactics.
You compare prices to past prices, competing prices, and adjacent numbers.
Customers equate visual size with numerical size.
Prices seem most expensive in the bottom-right.
$1500 seems cheaper than $1,500.
Research shows that "small" words (e.g., low, tiny, little) can influence the perceived size of a nearby price.
Phonetic size feels like numerical size.
Something will "feel right" about the price.
Men make decisions quickly, and they assume that red prices indicate savings.
Customers were more likely to buy two t-shirts for $25 because of the matching “t” sounds.
Design currency symbols so they're less painful and easy to distinguish from the digits in a price.
Customers adopt a higher reference price, which makes subsequent prices seem cheaper.
Customers can subtract these numbers more easily, enlarging the perceived discount.
Use “charm” prices (e.g., $2.99, $49.95) to reduce the left digit as much as possible.
It feels like a better deal.
A visual difference feels like a numerical difference.
A visual gap makes the numerical gap seem larger.
If your price is $465, aim for a discounted price across every digit.
Below $100? Give a percentage discount (20% off). Above $100? Give an absolute discount ($20 off).
All else equal, coupons are more effective than visibly reduced prices.
Customers prefer prices that are divisible by the purchase quantity because it helps them imagine using these products.
Similar items pull more attention.
Round discounts seem big, while precise discounts seem urgent.
Customers are more likely to choose a middle option because of the central gaze cascade effect.
By the end of the month, customers have depleted their monthly budget. They're seeking ways to save money.
Customers feel less pain spending money from refunds because they feel like "free money."