2.81% increase in conversions from 1 cent decrease in price There is absolutely nothing new in research that has found that a 1 cent decrease in a price from $2.00 to $1.99 can increase conversion rates from 2.39% to 5.2%.It might be more surprising that other studies have found that: $1499 outsells $1,499 $15 plus […]

2.81% increase in conversions from 1 cent decrease in price There is absolutely nothing new in research that has found that a 1 cent decrease in a price from $2.00 to $1.99 can increase conversion rates from 2.39% to 5.2%.It might be more surprising that other studies have found that: $1499 outsells $1,499 $15 plus $2.99 shipping outsells – $18.00 with free shipping $362,798.15 outsells $350,000 Similar findings have been highlighted time and again in research. While psychologists are not sure why these findings arise, they agree that it points to the less than rational think of human beings. The fact is, human beings are not rational. This point is further highlighted by: The success of pricing strategies that sell products to women that are identical to those sold to men for an average of 7% more   The fact that the relative size of an original price and the…