Retailers love the idea that consumers can be trained to view certain price points and markdowns as terrific deals. Just tweak the prices and wait for shoppers to bite. And when consumers get to the point that they can see through the manipulative promotions? Then it’s time to retrain them.
price anchoring
JC Penney Reintroduces Fake Prices (and Lots of Coupons Too, Of Course)
In early 2012, JC Penney promised the end of “fake prices”—ones that were inflated just so that shoppers could be tricked into thinking the inevitable discounts represented amazing deals. Well, it’s already time to welcome back …
JCPenney Brings Back Sales, but What’s the Deal with Those ‘Suggested’ Prices?
A year ago, JCPenney promised an end to “fake prices” and the usual retailer mind games played to make customers think they’re getting a deal. Now that the ambitious attempt to wean customers off endless discounting and markdowns …
In Major Shakeup, J.C. Penney Promises No More ‘Fake Prices’
Less than 1% of J.C. Penney’s revenues come from items bought at full price. By contrast, nearly three-quarters of merchandise sold by the department store chain is discounted by at least 50% off. What this tells shoppers is that …