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Business owners can raise their prices slowly. You know, boil the frog. Surely that prevents the harsh reactions that customers have to suddenly having the pric
by tomc1985 5y ago
Business owners can raise their prices slowly. You know, boil the frog. Surely that prevents the harsh reactions that customers have to suddenly having the price raised?
- avidiax 5y agohttps://en.wikipedia.org/wiki/Psychological_pricing https://en.wikipedia.org/wiki/Psychological_pricing $9 or $9.50 for a beer is the most you can charge in some places. You'll suddenly put people off if the beer is $10. What you can do is charge $9 for a 14 oz beer (previously 16 oz), which is roughly like charging $10.28. Can only do that trick once, though. Or you can increase the size to 24 oz and charge $14.
- tomc1985 5y agoYeah but $9 for a beer is already insane in most locales. Most bars charge $5-$7, going down to $3ish (or even a dollar) for a cheap beer in a lower-income area. Unless these restaurant owners are already capped out they have a lot of wiggle room