It is well known that culture influences consumer behavior, but the impact of culture on pricing is less studied. One way culture might be reflected in price tags is through price endings, which can be round (e.g. $10.00), just below (e.g. £9.99), or precise (e.g. €9.87). While all these price endings are common, little is known about why sellers in certain markets prefer one over the others. It is well known that culture influences consumer behavior, but the impact of culture on pricing is less studied. One way culture might be reflected in price tags is through price endings, which can be round (e.g. $10.00), just below (e.g. £9.99), or precise (e.g. €9.87). While all these price endings are common, little is known about why sellers in certain markets prefer one over the others. Social Sciences Economics & Business Phys.org – latest science and technology news stories
Cultural influence on pricing strategies: How national values shape round, just-below, and precise price tags
