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Tag Archives: psychological appeal
1 Cent No More: Will You Need to Change Prices in Your Online Store?
The U.S. penny is on its way out. After more than a century in circulation, the 1-cent coin is being phased out due to rising production costs and the increasing dominance of digital payments.
While the change might seem simple on the surface, it actually brings up key considerations for how prices are set, rounded, and perceived - especially for online businesses.
💡 Why Is the Penny Retiring Production?
Each penny costs over two cents to produce, making it
... Continue reading
Posted in E-commerce, Marketing, Technology in the News
Tagged digital payments, e-commerce, ecommerce pricing strategy, end of the penny, marketing strategy, online store, online store pricing, outdated, penny discontinued, penny phase out, pricing strategy, psychological appeal, psychology
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