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Pricing Psychology: 7 Sneaky Retail Tricks

The psychology of pricing explains why we do many of the silly things we do with our money. Retailers work hard to manipulate us, tweaking price tags and offering “special” promotions to get us to spend more than we normally would.

Why are we so vulnerable? In part, we’re just wired to think in certain ways, experts say. But the other problem: We’re usually far too busy and distracted to pick up on all the nuances working on our subconscious.

I recently interviewed a couple of behavioral science and marketing experts and reviewed some academic studies to round up the most popular pricing tricks. Hopefully this list will come in handy next time you come across a “deal.”

The top tricks are:

1. ‘Free’ Stuff

2. Bye, Bye, Dollar Signs

3. ‘10 for $10′

4. Per-Customer Limits

5. The 9 Factor

6. Easy Math

7. Price Font Size

(source CBS)