Does the way you write your prices make it seem higher or lower?
The fact is, that yes.. the way you write your prices can appear to the hman mind as being either higher or lower.
Let me explain…
Did you know that if you were to remove the $ symbol from your prices that it can seem like it’s a lower price in the mind of your customer..
29 would look to be lower as opposed to $29, even though the only difference is that the $ sign has been left off.
But you knew that right.
However it goes even further than that
There is new research that shows that using punctuation and decimal points can actually make a difference in how people perceive your prices.
It really does make a difference.
Here’s how it all happens
According to the journal of consumer psychology, prices that have more syllables when spoken seem higher to the consumer.
Comma’s ($1,699) and cents that appear after the decimal (1699.00) imply that the product or service is more expensive.
Those punctuation point add to the total syllables and hence make the price seem that much higher in your mind.
But get this, it even happens when the price is written and not just spoken.
Our brains are wired so that even when we see the price written down we use an auditory representation of the price in your mind.
This effect is due to the way we would normally pronounce these prices.
One thousand six hundred and ninety nine for the punctuated vs sixteen hundred and ninety nine for the non punctuated.
So what does all of this mean?
Imagine that your business is run based off having low prices for the consumer.
Just by knowing these little tricks it gives you a way to display your prices that you might not have even considered using in the past, but could have actually been killing off your sales without you knowing it.
If you want your customers to see your prices as being low, then omit the commas and decimals.
That would mean that you would use $1199. as opposed to $1,199.00
Hell you can even experiment with leaving off the dollar symbol.
Give it a try.