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The statistics on consumers evaluating the purchase of something that is $9.99 vs $10 is well proven. Switching to round number prices would cost retailers a w
by revicon 10mo ago
The statistics on consumers evaluating the purchase of something that is $9.99 vs $10 is well proven.
Switching to round number prices would cost retailers a whole lot more.
https://www.sciencedirect.com/science/article/pii/S0022435996900135 https://www.sciencedirect.com/science/article/pii/S002243599...
https://www.researchgate.net/publication/23547242_Penny_Wise_and_Pound_Foolish_The_Left-Digit_Effect_in_Price_Cognition https://www.researchgate.net/publication/23547242_Penny_Wise...
https://www.sciencedirect.com/science/article/pii/S0022435905000813 https://www.sciencedirect.com/science/article/pii/S002243590...
- zahlman 10mo agoThe rounding is applied to an entire-after tax bill, not to shelf prices. Again: Canada actually did this many years ago. The effect you predict did not appear.