BoAT Lifestyle practices the rule of nines, a popular method of charm pricing to improve conversions and increase sales. Charm pricing works as people progressively pay less attention while reading from left to right. As you can see above, BoAT Lifestyle prices all their products to end with 9s, like their ‘Wave Flex Connect’ which is selling at ₹1,799. This price is often seen as ₹1,700, not ₹1,800 and, as a result, is more attractive to customers.
How to implement this to your business?
- 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. You can choose to price your products to end with .99, .95, 0, and many more and Konigle will automatically apply charm pricing across your whole store for both old and any new products you add in the future. All of this in 5 minutes.
With charm pricing, you can use the difference of one cent or one dollar to majorly impact the users’ perception of your offering’s price.
Want to read about Charm Pricing in detail, download the report of the Charm Pricing Study done on over 1.5 million online stores by Konigle here.