How Decathlon uses psychological pricing
June 21 2023
"Sellingnomics" report reveals that Charm Pricing can help improve conversions and build your brand image. Our study of over 1 million stores shows that this technique, used by Decathlon and others, helps customers perceive prices lower than they are.
Charm Pricing helps improve conversions and position your brand image. Here at Konigle, we performed a study on over a million stores to analyse how charm pricing impacts store performance, you can read the report here.
As was highlighted in the Sellingnomics Charm Pricing report, Decathlon uses the .99 rounding technique - so typical of retailers selling low priced products. This way, when customers see prices such as $12.99, they'll perceive it to be $12 instead of $13 and be much more willing to purchase.
Implement Charm Pricing to your store - it's really easy!
- Install Konigle to your Shopify store.
- Under improve conversions strategies, implement the ‘Use charm pricing techniques to set product prices’ tactic.
- Enable charm pricing with the Charm Pricing tool. Choose to price your products to end with .99, .95, 0, etc. and Konigle will automatically apply charm pricing across your whole store for both old and any new products you add in the future.