The Jam Study by psychologists Sheena Iyengar and Mark Lepper in 2000 demonstrated the phenomenon of choice overload. The study found that while a display of 24 jam varieties attracted more interest, shoppers were ten times more likely to buy a jar of jam when...
If you look closely, you’ll see psychological pricing tactics all around you. Retailers like Amazon and Apple often price items just below a round number (e.g., $9.99 instead of $10.00); many retailers use bundled pricing like “BOGO” (buy one, get one) to make the...
