How To Use Psychological Pricing

Econsultancy delve into five ways as to how to use psychosocial pricing. This type of pricing is a strategy in which retailers can take advantage of. When retailers tap into these pricing tactics, they are able to effectively boost sales and conversions. There are a variety of pricing tricks and tips to entice shoppers to buy, so price intelligently to benefit from this phenomenon.

Psychological pricing is a tool that retailers can use to subconsciously increase the chances that a customer will make a purchase, including:

• Charm pricing 
• Bundling to reduce purchasing pain
• Flash sales
• Anchored pricing
• Buy one, get on free

Read more at https://econsultancy.com/blog/65099-five-ways-to-use-psychological-pricing?utm_reader=feedly&utm_content=buffer50a3c&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer#i.jf91ckaorf8ivv

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