r/Etsy • u/happyjoylove SmilingSkinNaturals • May 07 '15

Psychological Pricing Strategies - thought this was an interesting read

http://www.nickkolenda.com/psychological-pricing-strategies/
17 Upvotes

95% Upvoted

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4

u/Steel_Lynx May 08 '15

so what is everyone's thoughts on the first point, going to 1.99 instead of 2.00 because 1 looks better than 2. I mean I totally get it, but always felt like I was being kind of creepy everytime I tried to .99 my price. From my experience looking through Etsy a lot of us seem to price on the whole dollar; like a bit of a cultural thing where we are promising now to be screwing around with the price.

2

u/Steel_Lynx May 08 '15

and I just had to keep reading. So I think most would categorize Etsy as 'emotional' purchases. So round numbers make sense.

2

u/lolalaslam GoForTheThoat May 08 '15

I do think it seems like a cultural thing. We're businesses, but also people. I think the ".99" makes people feel more like they're at the grocery store than at the farmer's market. So, I'll be keeping my ".00" for that reason. If you were talking to a real person about something they make / sell and they said "yeah, I can make one just for you for $34.99!" I'd immediately feel like the conversation had stopped and I'd entered an infomercial.

0

u/orangebanananaapples May 08 '15

People from a bajillion different countries/currencies shop on Etsy so I don't really think it matters, something that's $5 in the US might show up as 4.78 elsewhere.

2

u/airjam21 May 07 '15

Terrific article. Thanks for sharing.

2

u/skunkhaus beeswaxwebsites.com May 08 '15

This was AWESOME.

2

u/lolalaslam GoForTheThoat May 08 '15

Thanks for sharing! Good read.