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After learning about odd-even pricing, you might be surprised at how common this retail strategy (i.e., mind trick) is the next time you're at the store.
No significant effect was found regarding even or odd pricing on the likelihood to purchase or how high participant’s perceive the price to be.
The actual price tags follow the good old psychology marketing strategy of odd-even pricing. Prices like $4.93 and $6.84 are just below whole numbers like $5 and $7, making the prices seem like a ...
For the younger readers out there, this odd-even scheme is a throwback to a similar policy that dates back to the mid-1990s (allegedly what some Gen Zs are now calling “the late 1900s”).
Under the odd-even scheme, vehicles with license plates ending in odd numbers (1, 3, 5, 7, 9) are prohibited from using Edsa on Mondays, Wednesdays, and Fridays.
Mayor Joe Schember's administration is reminding residents that the city moves to odd-even winter parking rules on Friday. Those rules will stay in place until March 31.
Odd-even and same-side parking restrictions begin again at 12:01 a.m. Tuesday, Nov. 1, and will be in effect for five months.
Odd-Even Pricing Walmart and other big-box stores employ a tactic called "odd-even pricing" to make you think an item costs less than it actually does, Business Insider reported.