Episode 18- The 99 Cent Lie: How Stores Trick Your Brain into Spending Money скачать в хорошем качестве

Episode 18- The 99 Cent Lie: How Stores Trick Your Brain into Spending Money

🎧 EPISODE SUMMARY: Why did Chelsea just buy 200 banana slicers? Because they were 99 cents. In this episode of Psycholab, we decode the most famous pricing trick in history: The Left Digit Effect (also known as "Charm Pricing"). We reveal why your brain is hardwired to see "$4.99" as "Four Dollars" instead of "Five Dollars," and how retailers have been exploiting this cognitive glitch for over a century to make you overspend. 🧠 THE SCIENCE: THE LEFT DIGIT EFFECT Josh explains the neuroscience behind the price tag. Our brains read prices like sentences—from left to right. We encode the first digit (the "Left Digit") with high attention and ignore the decimals. This "anchor" sets our perception of value before we even finish reading the number. The Statistic: Studies show that reducing a price by just one cent (from $5.00 to $4.99) can double sales volume. 💎 THE TWIST: PRESTIGE PRICING If 99 cents makes things sell faster, why doesn't Louis Vuitton use it? We explore Prestige Pricing (or "Rounded Pricing"). Luxury brands deliberately avoid decimals to signal honesty, quality, and confidence. The Rule: Discount stores use decimals ($19.99) to signal a "deal." Luxury boutiques use round numbers ($3,000) to signal "worth." 🍌 THE BANANA SLICER EXPERIMENT Chelsea is currently drowning in a cardboard fortress of useless kitchen gadgets. We play a game called "Cheap or Chic?" where she has to guess if a product is high-end or low-end just by looking at the cents on the price tag. 📝 IN THIS EPISODE, YOU WILL LEARN: -The History: Did the 99-cent price start as an anti-theft device for cashiers? -Charm vs. Prestige: When to use ".99" and when to use ".00". -The "97 Cent" Secret: What it means when a price ends in a "7" (Hint: It's usually a clearance trap). -How to Stop Overspending: Mental hacks to round up prices instantly. #PricingPsychology #MarketingHacks #LeftDigitEffect #MoneyPsychology #CharmPricing #RetailTricks #Psycholab #Podcast #ConsumerBehavior #BrainHacks #SpendingHabits #FinancialLiteracy #MarketingSecrets #NeuroMarketing #BehavioralEconomics #PrestigePricing #ShoppingAddiction #ImpulseBuying #MoneySavingTips #PsychologyFacts #HumanBehavior #CognitiveBiases #SalesPsychology #BusinessTips #JoshAndChelsea #LifeHacks #LearnOnYouTube #MoneyMindset #SmartShopping #RetailTherapy