Human behavior is odd – it is shown that shoppers are seduced by products if the price tag ends in 0.99 rather than the whole number. A study in a French restaurant found people almost always opted for a pizza where the price was €7.99 rather than €8. By altering the price of one popular brand of pizza to €7.99, while leaving the rest just one euro cent higher, sales of the cheaper pizza rocketed. The report concluded that paying less attention to the end of the price led the buyer to underestimate the price of the item. It made him think €7.99 was nearer to €7 to €8.
It is sounds odd-logic, but it seems that is how our logic works. It must be true looking at the price tags of things in all the varieties of shops in Malaysia and in the United Kingdom. Is it a sign that human beings cannot think logically? Or is it pure greed that make us behave in such illogical manner? Is it our desire to always gain some slight advance over others that lead us to throw logic overboard? Whatever it is the retailers are selling off their products because of this odd way our logic works!
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