Charm Pricing -- why I don’t recommend it

Photo by Brett Jordan on Unsplash
I’ve noticed that many businesses -- maybe yours -- use a pricing tactic that is manipulative, and oftentimes they don’t even know it.

Examples:

$14.95 instead of $15
$47 instead of $50
$999 instead of $1,000

Do you realize what’s going on here?The tactic is called “charm pricing” or “psychological pricing” and you probably encounter it every time you go shopping.

Few consumers realize what’s going on:It makes you think a price is smaller. For example, $947 seems...