Test a price that ends in 9, because it can sell more than a lower price
Updated: Oct 11
The last digit of a price can change sales.
The study. Two marketing professors from Chicago and MIT worked with a US women's clothing catalog. They printed different versions of the catalog with different prices for the same items.
The finding. Items priced at $39 sold more than the same items at $34 or at $44. The price that ended in 9 won, although it was not the lowest price.
Why it matters. Buyers do not read every digit with the same care. A price that ends in 9 can look like a good deal. This study used real catalogs and real orders, not a survey.
The takeaway. Test prices that end in 9 against round prices and slightly lower prices. Use real orders to decide.
Want to read more?
Subscribe to plaintalkbusiness.com to keep reading this exclusive post.
