Perception of price -
April 23, 2019
Tag: Retail strategy, In-store environment

Perception of price

Shoppers typically feel they get a better price when buying a set of items or when buying in bulk. They rarely check if this perception is based in fact. Rather, they are happy to take shortcuts. Similarly, clustering items, such as ten for 20€, suggests to many shoppers that a bargain can be had. They buy without checking whether there is an actual price advantage compared to buying individual items. The question is if there is an opportunity to offer bulk purchase or to cluster items.