What is the deal with ending a price with 7?
It's been a while now that I've been thinking about writing this blog, or maybe ask a question, but then I thought a blog would be more appropriate...
So what is the deal with the number 7?
Why is it that every product we see being sold on the internet ends with 7?
I read some articles about it and the rough conclusion on this is that it is "crowd" mentality, we see it done so we do it ourself.
Do we really? Are we that automated that we follow simply everyone, cause everyone is doing it?
Or is it possibly that the number 7 is a lucky number? I mean in the Casino community 7 is a lucky number!
But if I am not mistaken in China the lucky number is 8...and with over a billion chinese...shouldn't we capitalize on No. 8 ? Just wondering....
And why not go for the number 2, or 3, they are much lower and look just as attractive then 7, yet you don't see a lot of "Buy this now at $742 only!"....or "Get this now at $52 only!".... why?
psychology or just plain sheep mentality...what do you think?
Your thoughts and insights would be appreciated....and if there is someone here who really knows what this is all about (the No. 7 I mean)...then please by all means do enlighten us =)
Wishing You $ucce$$ - Orion
Recent Comments
22
Seven has a psychology behind it. If you see 7 as mentioned it is not just a casino lucky number but is the most selected number between 1 and 20 among several test groups. Retailers used to fixate on the number 9 because 9 was less than a full dollar when making something .99 and people would rather buy an item priced 99 cents as opposed to seeing $1. That's from other studies conducted over a 50+ year period according to Website Magazine.
Back to 7. Since 7 is a popular number, and 7 is a better deal than 9 or 8 the train of thought is you are getting a better deal at $47 than even $46.99. Just look how long it has been acceptable to add 9/10 of a penny to a gallon of gasoline. Most people don't realize that 1.999 is $2 when paying cash
This is an old sales ploy, years ago it was a .99, to make it sound cheaper, the theory now, as has been said below, is that 7 is between 5 (in the middle) and 9 (which is at the end). This is how it was explained to me at a sales seminar. It makes sense I suppose.
orion,
That was great, Maybe it's different parts of the country, that uses a different #. Where are its 9. YOU can buy this for 19.99 and if you hurry we will etc.,etc.. I guess psychologically its aimed at filling our thoughts with buy now at this one time deal.
Only my opinion
Regards,
I’m sure the analytics of what numbers close more sales have been studied for many years and it’s all psychological, but it all comes down to supply and demand and what market your selling or buying in.
If you really need or want something the only number that matters is the one you can afford.
Best,
Marcus
I'm kinda of the same opinion as Greg, below - just psychological games retailers play to trick us into thinking we're getting a deal. One of the most annoying to me is how all gas stations post their per gallon prices with .99 after the decimal. As if .01 is some huge savings, and as if we don't know it might as darn well be $365.00 per gallon if you're going to sell it for $364.99!!
SMH ...
Internet marketing products tend to have prices ending in 7. I believe it is anIM/urban legend that priced ending 7 sold better on the internet. But because of herd mentality, IM products tend to be priced ending in 7.
Big store merchandisers may price items ending in 7, 5, 3 etc to reflect closeout merchandise or final sales items. (it is more for their sales accounting needs)
Hi Orion,
I am not sure at all where the business physiology of the number 7 comes from. My thoughts are that many years ago, prices used to be even money for a chair , for example, of $53.
The competitor across the street had more or less the same item selling at more or less the same price.
He got the idea that $52.99 sounds a little better as people tend to look at the dollar amount and not so much the cents. (no sese herer).
Thus the 1 penny under the higher dollar figure. Through the years, $.99 started to become old hat, so the trickery came about again by lower it to "7" instead of "9".
Like I said this is just an shot in the dark as to why the "7".
I hope this give you something to chew on.
Great post. I myself never understood the #7 either. It seems to mean like you said everything ends in #7. I am so happy that everything here at WA thank God does not end in #7. So when you get the answer keep me posted because I am interested in the answer myself.
I'm not entirely sure myself, but now that you pointed it out a lot of price tags end in 7. 7 is a very powerful number. It has symbolism in both Japanese and Hindu cultures from what I've heard. There are also 7 letters in the Roman numeral system.
Add that with 7 days a week and 7 colors of the rainbow and you can't help but notice a pattern.
Good luck and take care,
Michelle/Anne
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Hi, Stranger.
We do not know who you are.
So we will just go with SantaFez.
No worries, we are all respected here at WA.
Thank you for the post.
Numbers are used in marketing for psychological reasons.
Even Wealthy Affiliate used '7's' until they saw the reality.
No more.
Prime examples are 'Click Bait' capture pages.
You can affiliate with these organizations if you like.
You can make really good money with these $7 marked programs but your longevity online will be limited.
"Get Rich Quick" has mutated into an online monster.
Get back to me if you want my additional thoughts on this subject.
Kindest regards,
For: @PMindra
Paul.