Price tags only show numbers, but it affects consumers’ minds and makes them decide to purchase a particular item or pass up the offer. Knowing the science of which price signs work best is going to have a profound impact on your sales.
The Power of Positioning
Due to how our brains work, left-aligned prices look smaller than centre aligned. Reading is done left-to-right by customers, so when prices are placed on the far right end of a product display it allows them to unconsciously anchor their judgement relative to that point.
Colour Psychology in Pricing
While red is traditionally a colour of sales and urgency, you run the risk that an overuse makes your brand cheap. As an example, black often provides a sense of luxury while blue is related to trust and reliability. Green implies value and savings. Pick colours that match your brand message and client demands. For Signage Exeter, visit Nettl, providers of Signage Exeter.
Font Size Manipulation
Reducing the size of pricing fonts makes prices seem less significant, larger fonts are great for banners on great deals. However, when prices are too low it can annoy customers and seem dishonest.
The Charm Pricing Effect
When prices end in 9 (£19.99), the left-digit bias is activated making the product seem much cheaper than it really is. Saying that, round numbers (£20) speak to quality and straightforwardness which appeals to a different customer audience.
Strategic Information Hierarchy
Lead with benefits, then price.
Context and Comparison
Display original prices next to sale pricing, to establish value. Create a sense of immediate perceived savings and enforced urgency: “Was £150, Now £99”
These things used together and combined for a useful pricing sign, will positively influence customer behaviour.