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In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [1] There is evidence that consumers tend to perceive just-below prices (also referred to as "odd prices") as being lower than they are, tending to round to the next lowest monetary unit.
Andrew Latham, CFP and director of content of SuperMoney.com explained that Target’s implementation of the “Gruen Transfer” strategies is a masterclass in retail psychology, subtly nudging ...
Retail stores have bumped up their margins for years by putting small impulse items such as chocolate bars, magazines and packs of gum or batteries in the checkout area. The restaurant industry is ...
From spraying you with perfume to placing candy by the checkout line, stores will try anything to get you to buy more. In our report, Six Sneaky Ways Stores Get You to Buy More, we covered some of ...
Retail therapy or shopping therapy is shopping with the primary purpose of improving the buyer's mood or disposition. It occurs either due to people taking pleasure in shopping or during periods of depression or stress. Items purchased during periods of retail therapy are sometimes referred to as "comfort buys" (compare comfort food).
In shopping mall design, the Gruen transfer (also known as the Gruen effect) is the moment when consumers enter a shopping mall or store and, surrounded by an intentionally confusing layout, lose track of their original intentions, making them more susceptible to making impulse buys.
No, you're not imagining it. That bag of chips is getting smaller. Shrinkflation is not new, but it is getting easier to spot in the grocery store these days.
An example of mental accounting is people's willingness to pay more for goods when using credit cards than if they are paying with cash. [1] This phenomenon is referred to as payment decoupling.