Yesterday I shared an example of how price anchoring can increase sales.
But anchoring can also backfire.
Take this car for sale.
Was $71,540
Now $49,985
On the surface, that looks like a win. A big discount.
But in the context of plummeting electric vehicle prices, that anchor creates a very different thought: What’s wrong with it?
Instead of signalling value, the original price plants doubt. It frames the product as risky, outdated, or undesirable.
In this case, simply presenting the current price – without the anchor – would likely have been more persuasive.
Pricing isn’t just about numbers. It’s about the story your numbers tell.
P.S. A reminder to Just Do This members…👋
Our open office hour is TODAY, 11th December 11.30am-12.30pm Melbourne time. Drop by and ask me questions about your business.
You’ll find the link to join in the New This Month section here.
P.P.S. Questions about whether your pricing is right, or how to improve perception of value? Check out my price optimisation coaching.
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