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Have you noticed how the petrol pumps in Auckland seem to have stopped temporarily at $1.999 per litre—just .001 cents off crossing the $2.00 mark?
That .001 cents means that if petrol went up to $2 per litre, and you purchased 100 litres, it would cost you ten cents more. A mere ten cents!
So why bother pricing to the third decimal place?
Psychology.
Studies have shown that consumers perceive prices to be cheaper if they end in odd numbers such as 95 or 99 cents. (more…)
The most famous cross-sell comes courtesy of McDonalds: “Would you like fries with that?”. The next time you go to any fast food restaurant I’d be shocked if they didn’t try cross-sell or upsell techniques on you. Others you’ve probably heard countless times include “Would you like to make that into a combo?” (cross sell) and “Would you like to upsize your meal?” (upsell). But what’s the difference and how can you put them to use on your website to increase your profits? (more…)
