why 99 cents instead of a dollar?

why 99 cents instead of a dollar?
Historians can't pinpoint who established the trick, but consumer behavior experts can definitely explain why it helps move more goods. Ending a price in . 99 is based on the theory that, because we read from left to right, the first digit of the price resonates with us the most, Hibbett explained.
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Does 99 cent pricing really work?
Not just when it's 99 cents or 99 dollars, but prices ending in 9 tend to sell at much higher rates. ... In other words, pricing your product at $99 will, on average, yield 24 percent more sales than if you priced it at $100. Does 99 cent pricing really work ? Absolutely. May 23, 2016
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Does 99 cents equal a dollar?
99 cents ( 99 /100 of one cent ) to the base unit price for most merchandise. As a result, currently, the most common price point for items in our stores is 99.99 cents. In almost all instances, this price will round up to one dollar at the register and that is the amount a customer will be charged.
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Why do prices have 99 cents?
Endings in 99 increase sales of low value items, with the customer focusing on the lower digit on the left. Prices are a key product feature. They are immediately evident and extremely relevant when customers make their purchase decision. Dec 5, 2018
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Why is it 99 cents instead of a dollar?
And the reason behind this odd phenomenon is more complex than you may think. It's called the "left digit effect." ... We judge prices by the left digit. This method of not pricing items in round numbers is also called "Odd Pricing" — referring to the resulting odd price numbers like 69 or 99 cents. Jul 2, 2018
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