Case Study – Anchoring in Retail Pricing

Description

AUDIO Case Study

In this podcast episode, we dive into the world of retail pricing strategy through Sarah, the owner of a boutique clothing store. Unwittingly, Sarah’s pricing decisions were shaped by the anchoring effect, a cognitive bias that led her to base future prices on initial costs. This case study uncovers how anchoring can skew retail pricing, influencing customer perceptions and profitability. Perfect for retail professionals looking to understand how psychological factors can impact business outcomes and pricing strategies.