Why do stores have $59.99 as their price and not $60?

393 views
0

I’ve wondered this every single time I go to the store. It mildly infuriates me everytime I see it.

In: Other

People’s brains process 5x.xx dollars as way less than 60.

You have to make an effort to actually keep in mind that 59.99 is 60 effectively.

So, you’re more likely to notice a product with 59.99 first against one with 60.00.

Studies prove that more people will purchase something if you avoid increasing the largest place values number.

Marketing. It’s very easy to fool someone into thinking they are getting a deal when the first number they see is smaller

There’s an actual psychological factor. You may think people are smarter than that, but they’re not. It has been proven many times.

That said, there are two other price points something can be. If things are a seemingly random number of cents, it makes people think that the cost is very specifically calculated and therefore it’s a good value. If the price is a nice round number, then it becomes a sign of luxury (high end) or bulk clearance level crap (low end).