The psychology of mattress pricing
Anyone who has ever purchased a mattress knows this drill:
Marked price: $1,799
Sale price: $899.50 – 50% off!!!
Extra haggling: $750.00
Meanwhile, you’re still not 100% certain that you’re getting a good deal, but because you’re paying so much less than the item was originally marked, you feel ok.
This strategy is called price anchoring. In this interesting article on price anchoring, Dan Nguyen posts about an interesting example from Daniel Kahneman’s new book involving a roulette wheel and a guessing game. If you find the mattress pricing scam appalling, you should definitely check it out. It’ll make you even less excited about their tactics.