Why a £60 Shirt Can Outsell a £30 One: Pricing Psychology Explained
Imagine two racks of premium cotton shirts. One displays a price tag of £30. The other, seemingly identical in fabric and stitch quality, asks for £60. Conventional economics suggests a clear winner: the £30 shirt should fly off the shelves while the £60 option gathers dust. Yet, in the real world of consumer behavior,…