The Science Behind Pricing: How to Get it Right

Everyone knows college kids tend to be frugal. They have to spend money on rent, books, school, social activities, the list goes on. Understanding how to price items correctly expands your store revenue without shrinking their wallets.

According to a University of Chicago and MIT study, nine is a magic number in pricing, inducing people to buy something they might not have otherwise.  Follow the advice from the infographic below and reap the benefits of pricing psychology.

 

science_of_pricing

Source: Hubspot.com

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