Using Behavioral Economics, Psychology, and Neuroeconomics to Maximize Sales
When it comes to developing a smart ecommerce pricing strategy, there are very important lessons to be learned from behavioral economics, psychology, and neuroeconomics.
Researchers in these fields have rigorously tested consumer behavior and have learned how we react to different forms of pricing. These learnings will give you insights into your customer's minds on a large scale, and will show you similar patterns and habits that you can leverage to your benefit. Some people may find these disciplines intimidating, but applying their principles to your ecommerce store is easy.