Pricing: $4.99 vs. $5.00

frodojrr · August 8, 2007

Does anyone have any comment or has anyone had more or less success with pricing at the traditional $4.99 vs. $5.00 pricing?

PictureThis! · August 8, 2007

I don't do it, but I've read that pricing something ending in .99 makes a customer think they are getting a sale price.

tuggnet · August 8, 2007

I'm no expert on marketing or pricing, but I did stay in a Holiday Inn Express last night!

Sorry, couldn't resist...

Anyway, the $4.99 pricing says you're in business. You're goal is to make money and by pricing that way you can advertise your widgets for less than $5!

When you price at an even dollar amount, that kinda says your maybe not so worried about your pricing. Perhaps you're pursuing this as a sideline business or hobby.

Back in the day, when I was in school (way back that is), I remember one of my profs saying something about .99 pricing has been used to keep retail clerks honest and studies have shown people buy more with this type of pricing.

Your mileage may vary!

Cheers

RustingInPeace · August 9, 2007

I going to put it to the test
Just finished putting my pro pricing in the system. I opted for even dollar amounts. I spent years as a retail manager, and never put much stock into the .99 pricing model. It seemed at the time to be more a matter of custom than of research. I never noticed much of change in sales when an item was priced in even amounts. Hell I feel insulted every time I see similar pricing strategies.

Just my 2 cents worth on the matter.

claudermilk · August 9, 2007

I had read there was some kind of study about it--never saw it myself & would be interested. I suspect the marketing people are convincing themselves the customers will buy more because they (wishfully--on the marketing peoples' part) round to $4. I don't know about anyone else, but it annoys me & I always round up to $5. The annoying part about it is I know they are playing games with me.

benduki · August 9, 2007

I think it's dumb but conventional marketing wisdoms says using 4.99 has a positive on most people. So, dumb or not it works!

Kinsey
www.kotybear.com
http://kotybear.blogspot.com/

benduki · August 9, 2007

! Chris!

I see it exactly the same way but use .95!

Kinsey
www.kotybear.com
http://kotybear.blogspot.com/

xxclixxx · August 9, 2007

I've noticed sales (non photography) are higher when it ends with a 7 (IE: $4.97 or $97) I would think this would be similar results with photos, but I haven't tested that.

2whlrcr · August 9, 2007

My sales have been slow lately. I've got some stuff priced at $5.00. Maybe I should change the price to $5.99 and see if I sell more?:D

sirsloop · August 11, 2007

try 9.99... then you only have to sell half as much

Pricing: $4.99 vs. $5.00

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