Why do even smart shoppers sometimes make not-so-smart choices? According to Nick Kolenda, it’s because of how our brains are wired.
Kolenda, a marketing consultant specializing in the psychology of pricing, says people can be swayed not just by the price of an item but also by how that price is presented. Just changing the price tag’s color or size can make you think you’re getting a better deal. As he says in his new book, Methods of Pricing, “Ultimately, price is perception.”