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Psychological pricing
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Psychological pricing is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below n
Example of psychological pricing at a gas station
Example of psychological pricing at a gas station
Shrinkflation
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In economics, shrinkflation, also known as package downsizing, weight-out, and price pack architecture is the process of available products shrinking in size or quantity while the prices remain the sa
Psychological pricing
…Another phenomenon noted by economists is that a price point for a product (such as $4.99) remains stable for a long period of time, with companies slowly reducing the quantity of product in the package until consumers begin to notice. At this time, the price will increase marginally (to $5.05) and then within an exceptionally short time will increase…
Toblerone chocolate bar, 2006
Toblerone chocolate bar, 2006
2016 Toblerone bar from the United Kingdom with larger gaps between peaks, using 10% less chocolate
2016 Toblerone bar from the United Kingdom with larger gaps between peaks, using 10% less chocolate
Kellogg's shortened and shrank the diameter of the standard tube of Pringles in Australia through the 2010s and 2020s, as they shifted production from
Kellogg's shortened and shrank the diameter of the standard tube of Pringles in Australia through the 2010s and 2020s, as they shifted production from the United States to Malaysia. The net weight of each tube was reduced from 165g to 134g, the size of each Pringle was also reduced, and consumers also noticed a blander taste. These changes also coincided with price increases.
Many grocery stores provide unit price information for all products. In this Norwegian grocery store, the price for a bottle of ketchup is displayed i
Many grocery stores provide unit price information for all products. In this Norwegian grocery store, the price for a bottle of ketchup is displayed in terms of the price paid per package (64.90 kr) as well as the price paid per kilogram (111.90 kr). This allows customers to see how much they will pay and to quickly compare products that have different sizes of packages.