Showerthoughts

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A "Showerthought" is a simple term used to describe the thoughts that pop into your head while you're doing everyday things like taking a shower, driving, or just daydreaming. A showerthought should offer a unique perspective on an ordinary part of life.

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People live their whole lives watching corporations end prices with 99 yet when they list their own items for sale they choose a whole round number and never question it. (lemmy.world)

submitted 9 months ago* (last edited 9 months ago) by sparkitz@lemmy.world to c/showerthoughts@lemmy.world

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"...the average person treats a price ending in .99 as if it were 15 to 20 cents lower."

The tendency is called left-digit bias, when the leftmost digit of a number disproportionately influences decision-making. In this case, even though the real difference is only a penny, research shows that, to the average person, $4.99 seems 15 to 20 cents cheaper than $5.00 -- which results in selling 3 to 5 percent more units than at a price of $5.00"

Why Literally (Almost) Every Price Ends in 99 Cents

https://en.wikipedia.org/wiki/Psychological_pricing

EDIT: The left-digit bias is not just pennies / cents. It applies when going from $99 to $100…$399 to $400…$999 to $1000 etc.

EDIT 2: If you have a car for sale and you want $10,000 for it are you listing it for $10,000 or $9995?

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[–] Kolanaki@yiffit.net 3 points 9 months ago* (last edited 9 months ago) (1 children)

Unless you shop at Walmart, which literally promises to not end prices in 0, 5 or 9. All this really means is that most things are $XX.98 instead of $XX.99 tho.

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[–] driving_crooner@lemmy.eco.br 2 points 9 months ago* (last edited 9 months ago)

Some days ago I asked the price for something and the attendant said "fifteen"; but then when it put the price in card reader it was 14.99 🤔

[–] PipedLinkBot@feddit.rocks 1 points 9 months ago

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Why Literally (Almost) Every Price Ends in 99 Cents

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[–] andrew_bidlaw@sh.itjust.works 1 points 9 months ago

It works differently for me. 9 as a biggest single digit gives of expression of a bigger total number, besides feeling tricked.

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