A $2.99 priced story
marked down permanently
to $0.99
will sell over 10 times more
than the same story
priced simply at $0.99.
Readers believe
they’re getting a deal,
that they are ‘wise’ shoppers.
“You see a $56 shirt
on sale for $32
and think,
“Hey, that’s quite a deal.”
Of course, the store never intended
to sell the shirt
for $56.
The plan all along was
to charge $32.
The retail industry calls this
“price anchoring.”
JCPenney tried ending price anchoring
in 2012,
but sales plummeted.”
Consider price anchoring
your products.