why 99 cents?

why 99 cents?
Prices ending in 99 cents are powerful because we are conditioned to think 99 cents is a bargain, no matter how small the saving. ... Meaning – higher prices ending in a "9" will actually outperform lower prices – on the very same product. The alluring thing about 99-cent pricing is that it feels like a sale price.
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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
Full answer in: tech.co
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Where did 99 cents come from?
The stores date back to the 1960s when the company's founder, Dave Gold, inherited a tiny liquor store in downtown Los Angeles and decided to run a test by selling bottles of wine at a fixed price-point of 99 cents.
Full answer in: 99only.com
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Who invented 99 cent pricing
Melville E. Stone founded the Chicago Daily News in 1875, intending to price it at one cent to compete with the nickel papers of the day.
Full answer in: en.wikipedia.org
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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
Full answer in: www.simon-kucher.com
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