Researchers studied the effect of pricing on customer behavior, finding that people perceive cheaper prices as lower value when displayed in certain ways. A study showed that customers were more likely to buy from an ad listing tickets at £233 than one listing them at £188 because the difference between 9 and 8 is less salient than between 3 and 2.
Pricing advice based on psychology includes breaking down prices, showing price differences, being transparent with costs, and making differences visible.
Breaking down a price can increase perceived value; in one study, customers who saw the per-unit price of beer were more likely to consider it good or very good value than those who only saw the total price.
Differential pricing framing can also influence purchasing decisions. When comparing two subscription plans, presenting the cheaper plan as an "extra" rather than a full price can increase sales by making the difference feel smaller.
Transparency about costs and prices can lead to increased sales; in one study, soup sales increased by 21% when costs were made visible.
Making differences between options more salient can also influence purchasing decisions. In one study, participants who saw two almost identical packs of gum with slightly different prices were more likely to buy than those who saw identical packs with identical prices.
