Note: the longer the sale goes on, the more the discount decreases. (It decreases 1% every hour counting down from 100%).
I didn't notice that yesterday, and it's worth keeping in mind when reading this submission.
In my case, it might actually have had the effect of discouraging me from considering the offer, because the price went up since I last checked. Does anyone else feel the same way, or is this a discount model that you would recommend keeping in mind for another occasion?
But, knowing that the same product was 100% off mere hours ago will certainly disgruntled potential buyers. I think this model is more likely to alienate customers than it is to entice them.
Just, no. You lack a fundamental understanding of the psychology that underlies my point. Knowledge that you are missed out on a more lucrative deal makes the current price less appealing when juxtaposed against the missed deal. This is identical to the cognitive process that causes people distress when they miss refilling their parking meter by minutes. If you leave your car on the street for 3 days, it should not seem that unreasonable that you receive a ticket. However, in the cases where one approaches one's car while the ticket-writer is still present but the ticket has already been written, the person is more likely to flip their shit. The latter is far more upsetting because the person "missed it by that much."
Comments
Note: the longer the sale goes on, the more the discount decreases. (It decreases 1% every hour counting down from 100%).
I didn't notice that yesterday, and it's worth keeping in mind when reading this submission.
In my case, it might actually have had the effect of discouraging me from considering the offer, because the price went up since I last checked. Does anyone else feel the same way, or is this a discount model that you would recommend keeping in mind for another occasion?
80% off is still a pretty good deal.
But, knowing that the same product was 100% off mere hours ago will certainly disgruntled potential buyers. I think this model is more likely to alienate customers than it is to entice them.
On your theory, products should never go on discount. Clearly the world feels differently.
Just, no. You lack a fundamental understanding of the psychology that underlies my point. Knowledge that you are missed out on a more lucrative deal makes the current price less appealing when juxtaposed against the missed deal. This is identical to the cognitive process that causes people distress when they miss refilling their parking meter by minutes. If you leave your car on the street for 3 days, it should not seem that unreasonable that you receive a ticket. However, in the cases where one approaches one's car while the ticket-writer is still present but the ticket has already been written, the person is more likely to flip their shit. The latter is far more upsetting because the person "missed it by that much."