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I really don't understand why consumers care for relative price changes in the first place, rather than comparing absolute prices. Is price information really s
by elcapitan 11y ago
I really don't understand why consumers care for relative price changes in the first place, rather than comparing absolute prices. Is price information really so scarce? My first step is always to check amazon to get at least a rough estimate on the range of prices for a given product or product category.
- dsr_ 11y agoMany people still have assumptions of the pre-Internet age: things aren't ordered online, they are purchased in local stores. The stores have sales which are significant: buying on-sale can be 20-50% cheaper than buying off-sale. And the information on sales comes from advertising sections shipped with the local newspaper, or by big SALE signs in the store.
- Kenji 11y agoI think it is a deeper, subconscious psychological trick. "It's a special offer and it is limited time, I should get it while I can." Like, appeal to opportunists, or something? Of course, you're completely right and we rational people just override this and do not fall for such cheap tricks.
- TheOtherHobbes 11y agoIt's a standard marketing trick - because it works. It's why shady online marketing sites always have a "Special discount for today only!" tag. And - protip - why some automatically offer a 10-20% discount if you try to bail on the transaction.
- elcapitan 11y agoGiving people just one year of simple economical education about such stuff would probably have a huge financial lifetime gain for large amounts of people. Sad.