One of the things I’ve tested is price points.
My tests have indicated that price points of 7 and 9 tend to underperform price points of 5 and 0 – often by over 30%.
So, for example, £75 or £80 would usually be “good” prices compared to £77 and £79. (Good = more sales.)
However, there are experts in America who claim 9s are best.
The evidence they cite is a 2003 study by University of Chicago and MIT titled, “Effects of $9 Price Endings on Retail Sales: Evidence from Field Experiments”.
This experiment took four products priced $39, $49, $59, $79.
They tested what would happen if (more…)