You may have noticed that the prices of mobile phones, general goods, and other items all have one thing in common.
All of these prices are either 99 or.99.
Most of us do not consider purchasing something for 99 or 1099 rupees, but if we do, it appears strange that the price is not kept at 100 or 1100 rupees. So, what is the purpose of this, is it to force you to spend more?
The answer is yes, but it is not limited to that, and the reason is straightforward.
This method is known as psychological pricing, according to experts.
“People see prices from left to right, and we focus on opening numbers rather than closing numbers,” he explained.
He claims that this method is more effective when attempting to determine the prices of multiple goods at the same time and their initial price numbers are more prominent than others.
So most people are persuaded by the first number because they believe that paying 99 rupees for an item is preferable to paying 100 rupees.
It may be difficult to believe, but when we see a price of Rs 99, we associate it with the range of Rs 90 to 99; the number 100 rarely enters our minds.
So a one-rupee difference makes a huge psychological difference.
According to some experts, even when we see the price tag of something 99.99 paisa, we think it is 99 rupees and some paisa and not 100 rupees.
In comparison, if the same item’s price is written at Rs.100, we perceive it to be expensive, despite the fact that the price increase is only a penny.
When the number 99 is attached to an item, it appears to be on sale, and people believe they have made a profit by purchasing it.
