Beyond about three dollars, it’s which price feels right when buying products for intrinsic pleasure or functional objectives.
An interesting study by Wadhwa and Zhang (2015) uncovered rounded numbers invoke a subjective experience of “feeling right” when buying products for hedonic consumption goals and non-rounded numbers when buying products for utilitarian consumption goals.
In fact, mere #Priming in unrelated contexts could already lead to the rounded price effect. So, beyond the price tag itself, the shape of a number can also influence consumers’ purchase intention.
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