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5 Pricing Strategies All Savvy Shoppers Know | Apartment Therapy

When you go out to shop for, say, a new side table, what’s going through your mind? Style, definitely. Your budget, probably. Then you might have some thoughts about the abstract concept of value; if the price on the price tag is “worth it” or not. But do you know what your local big box retailer was thinking about when they set that price? Psychology.

Standard economic principles would predict that shoppers would pay the same price for the same pillow at two different stores. Or that a lamp priced at $25 will sell more than the same one priced at $29. But studies have shown that’s not the case.

In the reality that exists outside of Econ textbooks, people are terribly irrational. Smart retailers have learned how to take advantage of our brain’s subconscious impulses while shopping. Once you know the tricks that stores use to get you buying more, you’ll learn how to spend less.

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5 Pricing Strategies All Savvy Shoppers Know.

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