Add Slight Price Differences in Your Assortment
The choice becomes slightly easier, nudging customers to choose an option.
You prefer assortments with similar options (Sagi & Friedland, 2007).
In this scenario, you receive the same benefits from every option — so you don’t lose any benefits by choosing an option.
In one study, researchers asked two groups if they wanted to buy gum. Each group had two options:
- A: Same price (e.g., 63 cents)
- B: Different price (62 cents vs. 64 cents)
Turns out, the different prices boosted purchases (Kim, Novemsky, & Dhar, 2012).
But why? Shouldn’t similar prices perform better? Surprisingly, no.
Paradoxically, the packs seemed less similar with the same price. In this scenario, customers struggled to distinguish these packs so they searched harder for differences.
However, slightly different prices can reduce this urge. Customers remained focused on similarities, so they are more likely to choose an option because they won’t lose benefits by choosing an option.
- Kim, J., Novemsky, N., & Dhar, R. (2013). Adding small differences can increase similarity and choice. Psychological science, 24(2), 225-229.
- Sagi, A., & Friedland, N. (2007). The cost of richness: The effect of the size and diversity of decision sets on post-decision regret. Journal of personality and social psychology, 93(4), 515.