$.99 prices versus flat dollar amounts.... what's your opinon?
This topic has been closed.
This discussion is public.
Original Post
Hey everybody.. I was wanting to get some opinions on the business practice of using $.99 endings on prices rather than dollar amounts ending in 0's
(example..$8.00 versus $7.99)
I have been playing around with our prices and I am still not sure rather this pricing practice makes our handmade product look mass produced or not.. I have never been a real fan of the $19.99 "we're dealin" mentality as we are hand making each item but a good friend of mind said that whether I think that or not It is a proven marketing aid and people love to think they are not spending a whole twenty (versus 1 penny shy of a twenty)
what do you think?
in the meantime I am trying it out because It is helping me keep track of certain sale items
would love to hear some feedback from my fellow etsyians
Posted at 10:03pm Jan 19, 2010 EST
Responses
The 99 cents pricing annoys me. It's really a way to trick buyers into thinking they are getting some kind of cheaper deal.
Artists and crafters should be above that kind of fakery. (Can you hear the moral tone creeping in?)
Posted at 10:06pm Jan 19, 2010 EST
I've often wondered this myself.
I honestly like the look of .00, but major retailers list .99 so I guess it could go either way
You mentioned you tried it and still not sure if it worked...how did you test it?
was it the same product, but different colours?
Posted at 10:06pm Jan 19, 2010 EST
My dearest friend, an artist, but not on Etsy, and I have had many conversations about this issue. She has told me that since my work is art, I should price it as art and say $5.00 for an item, not $4.95. My day job as a buyer, tells me that I should be charging $4.95. Since my work is art, $5.00 is logical. On Etsy, a retail website, it should be $4.95.
None the less, it's a retail website, and $4.95 stands.
Posted at 10:07pm Jan 19, 2010 EST
Personally... I hate prices like that... and rather put 18 than 19, and 67 than 69 just not to make anyone feels like I am trying to cheat :-) regardless of marketing proved aids...
Posted at 10:08pm Jan 19, 2010 EST
WOW! I didn't know there was .99 prices. I personally don't like them here in ETsy because it reminds me of Walmart
Posted at 10:09pm Jan 19, 2010 EST
i am fond of using .00, for some reason .99 bothers me, it feels too commercial
just me two cents
Posted at 10:10pm Jan 19, 2010 EST
I'm not fond of the prices ending in .99. It is a sales tactic that has been used forever. Car sales, retail stores, fast food places.
Posted at 10:13pm Jan 19, 2010 EST
Yes, I feel like it's a corporate tactic, too. Why not just go one cent up to a round number? I hope the sellers and buyers respect each other here and not have to resort to silly numbers to confuse each other.
Posted at 10:13pm Jan 19, 2010 EST
I've tried pricing both ways. One does not seem better than another to me. Most buyers (I think) are aware of the 99 cent thing.
Posted at 10:14pm Jan 19, 2010 EST