How to Boost Retail Sales With Psychological Pricing

One form of psychological pricing is called charm pricing. It features a number that you’ve seen on a lot of price tags: nine. Shoppers just can’t get enough of this number because it makes them feel like they’re getting a deal — $19.99 is less than $20, and that resonates strongly with shoppers. Even though it might not make the most sense, the numbers speak for themselves. Prices with a nine in them see a 24 percent increase in sales compared to other prices.