The truth about Price Anchoring

Hello human

💡Have you heard of the concept of price anchoring?   

This tactic is based upon the concept that people are more likely to buy something if its listed price is first set very high and then subsequently lowered.

📚 For example:

If a company were selling shoes and suits.

They may first show you a $1500 suit then show you $150 shoes.

Although you got no discount, you will be more likely to buy the shoes.

Because $1500 is the anchor price in your head, $150 seems smaller.

Giving something will create a sense of gratitude.

You can now use price anchoring in your business to increase sales.

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(Human note: I feel lazy today… but who cares? there is Tugan.ai working!)