Stacked discounts (e.g. 15% sale + 10% online coupon) led to up to 16% higher purchase intentions vs a standard discount of the same amount (25%).
For high-end items (e.g. a leather briefcase), avoid showing the price immediately. For inexpensive items (e.g. a tote bag), show the price straight away to increase sales.
People are less likely to make offers to buy, or respond to offers received, when they use precise digits (e.g. $1,525) compared to rounded amounts ($1,500).
Use % off (e.g. 20% off) when your promotion is store-wide. Use $ off (e.g. $15 off) when your promotion is specific to one product. Sales were up to 42% higher.
Sustainable products (e.g. a bag made with recycled fabrics) are judged as up to 8.4% less sustainable when they have a relatively low price.
In promotions, giving a voucher for a free gift (vs giving the free gift directly) increased sales up to 52% when the gift was low-value.
People were willing to pay up to 13.7% more for a product that looked more complex because it looked more expensive to produce
Original practices for boosting your customers’ willingness to pay for both - physical and digital products.
We don’t think AI has bad intentions, so we are up to 2.6 times more likely to accept bad news given by them (e.g. accept a higher-than-expected price).
Requiring something small in return (e.g. fill out a survey, watch an ad), does not hurt demand for free products or offers - it might even increase it.
Crafting an effective pricing and plans strategy for a sports betting advice subscription
47.4% more people signed up for a basic plan when it was free (vs. $1). They overvalue free and were more tolerant of ads and worse service.
