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And guess what, that works. (lemmy.world)

submitted 1 week ago by SouravSatvaya@lemmy.world to c/memes@lemmy.world

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[–] Kidplayer_666@lemm.ee 32 points 1 week ago (1 children)

JC Penny kinda showed that no. It isn’t pseudocience

[–] Anticorp@lemmy.world 14 points 1 week ago (1 children)

What's the story about JC Penny?

[–] Kidplayer_666@lemm.ee 37 points 1 week ago (2 children)

The CEO decided that clients were smart intelligent people and treated people as adults. Aka, no discounts, no 99 pricing, it just costs what it costs, as low as we can make it, plus our margin.

JC Penny was already not too well, this helped sink them

[–] TehWorld@lemmy.world 33 points 1 week ago

It was less about the .99 pricing and more about "Sale" pricing and 'coupons'. Retailers will put a pair of pants on "Sale" for 50% off 51 weeks out of the year and people think they're getting a great deal whereas when it's not half off, they just don't buy.

[–] Anticorp@lemmy.world 17 points 1 week ago (1 children)

Poor guy. Tried to do some good in the world and paid the price for it. Nobody ever went broke overestimating the stupidity of the average person.

[–] laurelraven@lemmy.zip 8 points 1 week ago

"Why would I pay $25 for these pair of pants at full price when I could pay $24.99 for those [identical] pants that are half off?! Clearly, that's the better deal!"

Hell, could probably even make it $29.99 for the identical pants and people will still go with that because they think they're paying five more bucks and getting a $60 pair of pants