#110: Black Friday & A Short History of Discounting
English Learning for Curious Minds | A More Interesting Way To Learn English
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How to Use Discounts and Offers to Get You to Buy
You are more likely to buy a product if it says 90% off, rather than just saying the price is $30. Smart companies will use what's called the rule of 100 when discounting products. Prices with fewer syllables tend to lead to higher sales because your brain subconsciously encodes them as cheaper. A lot of retailers do this by using phased discounting where they slowly lower and lower the discount so that it's back at its original price at the end.
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