The Homa Files

Excerpted from WSJ online, “To Get Customers to Spend More, Drop the Dollar Signs”. August 18, 2008

Researchers at Cornell University found that restaurant owners who drop the dollar sign from their menus got clients to spend more — $5.55 more per meal on average, to be exact.

The researchers noted that just seeing the dollar symbol agitated diners so much that they spent less.

Something as simple as how you display prices can have an impact on customer perception and actual sales  …  like that penny-off trick to enhance perceived value  … $9.99  just seems less than 10 bucks.

Source:
http://blogs.wsj.com/independentstreet/2008/08/18/to-get-customers-to-spend-more-drop-the-dollar-signs/

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This entry was posted on August 21, 2008 at 6:37 am and is filed under Mktg - General, Mktg - Pricing, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.