Double and multiple discounts

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Let's be honest, about 10 years ago, this kind of psychological pricing was very rare, but with the advancement of technology, the possibility of taking advantage of flash deals has increased, as you can send notifications to your clients and get much more traffic within seconds.
Be a little cheeky and create a cool discount that you can apply for a limited time, whether that discount will actually end soon or not, and see how your customers respond. Spoiler alert: you'll see an increase in sales pretty quickly.

4. Pricing by category (bracket pricing)
Let's take a look at what a price bracket is.
Price ranges only make sense if you sell multiple products or bosnia and herzegovina telegram database multiple variations of the same product. For example, say you sell three types of orange lemonade. They come in the same bottles and taste similar (but not exactly the same) like lemonade. If the three lemonades are targeted at different price points (say one economy, one average, and the third premium), most inexperienced first-time shoppers will buy the most neutral, average product.

So, brand loyalty aside, if you're not a bargain-based store, you can confidently use bracket pricing to boost sales of your mid-range and lower-priced products. The chart below shows an example of how sales might be distributed among first-time buyers who are unfamiliar with the product and have no brand loyalty.


5. Decoy Price
Bait pricing is what organizations like movie theaters and Starbucks use to get customers to spend more money.
The most common way decoys are utilized is by having tier-based or size-based product variations and disproportionate pricing.
So, for example, if you are selling perfume and you distribute your product in three different sizes, A-30ml, B-60ml, and C-90ml, you can set the prices as follows (example):