"Customers found that the cheaper tickets felt like a worse value. Researchers found that people more easily differentiate smaller numbers. The difference between 4 and 3 seems more salient than 9 and 8."
"Breaking down the price per unit performed better with customers. Showing a lower price led shoppers to perceive that they were getting a better deal."
"Among those shown the per-bottle price, 28.6% said it was good or very good value, more than double the 13.7% who only saw the total price."
In a study, customers preferred cheaper tickets priced at £188 over higher-priced tickets at £233, as smaller numbers felt more valuable. Research indicates that people differentiate smaller numbers more easily. Additionally, breaking down prices per unit, such as showing the cost per lunch, significantly improved perceived value. In an experiment, customers who saw the price per bottle of beer were more likely to view it as a good deal compared to those who only saw the total price. Proper framing of prices can enhance customer perception and increase sales.
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