Give Two Discounts in Ascending Order
Two discounts feel better than one.
Two gains are often preferred to a single lump sum (Kahneman & Tversky, 1979).
Therefore, double discounts can be helpful: Perhaps offer 10% then an extra 40%.
If possible, arrange these discounts in ascending order: 10% then 40%. Ascending momentum makes the total discount seem larger (Gong, Huang, & Goh, 2019).
- Gong, H., Huang, J., & Goh, K. H. (2019). The illusion of double-discount: using reference points in promotion framing. Journal of Consumer Psychology, 29(3), 483-491.
- Kahneman, D., & Tversky, A. (1979). Prospect Theory: An Analysis of Decision under Risk. Econometrica, 47(2), 263-292.