The power of anchoring

It’s Discounted, but Is It a Deal? How List Prices Lost Their Meaning

As traditional retailing falters, shutting stores and shedding workers, online merchants are reaping the rewards. People like the convenience of e-commerce, and they love the feeling that they are getting a deal. The perception of a bargain is fostered by online retailers’ use of something variously labeled list price, suggested price, reference price or manufacturer’s suggested retail price. Whatever its name, the implication is that people are paying much more somewhere else. ….[READ]

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