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What’s the best price?

Does it really matter what price you charge? Once you have your profit margin worked out, is £19.99 really more popular than £20 when buyers make their choices? Turns out it is, and there is a wealth of data to show the best way to decide on prices.

This interesting article provides the evidence that the .99 really does increase conversion rates, and explains why. It’s an authoritative piece of research but written clearly.

Here are some findings:

  1. What buyers check first is the furthest left-hand number – so 1 is perceived as significantly cheaper than 2 when they look at 19.99 and 20.00
  2. Put your prices up slowly and steadily rather than keeping them the same for years and then increasing significantly
  3. If your price is over £1,000 omit the comma
  4. Men are more likely to buy an item if the price is a red font

ADVICE: Although much of this is more useful to a website, some can be used on eBay as well.


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