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The Sneaky Pricing Tricks That Make You Spend More Money
How to craft a pricing model that drives growth and customer loyalty
Picture this: you’re shopping online for a new pair of shoes. You find a pair you like, but they’re a bit pricier than you were hoping to spend. Just as you’re about to close the tab and move on, you notice a little message pop up: “Only 3 left in stock!”
Suddenly, you feel a sense of urgency. You don’t want to miss out on these shoes. So you quickly add them to your cart and check out, spending more than you planned.
And it’s no accident…
…Retailers use sneaky psychological pricing tricks like this all the time to influence your buying behavior and get you to spend more money.
The way a price is presented can impact sales by up to 20%. That’s a huge difference for businesses, and they’re well aware of it. They use tactics rooted in behavioral economics and consumer psychology to tap into your subconscious biases and emotions.
For example, ever noticed how many prices end in .99? Like 19.99 instead of 20? That’s called charm pricing, and it’s…
