Why are products priced at one less than a hundred or a thousand?!We often see products, whether in a store or online, with a price tag that says something like:
Buy this smartphone for a steal at Rs.7,999
Offer open for a short period - Rs.999 only
I find this very odd to keep it one rupee short. Even in foreign currency we can see such offers: Only $99 or $299.
What exactly is the point of it? Just some marketing gimmick to make the buyer feel that he/she is not buying something too expensive? Or is there some other reason - maybe some belief in numerology?!