I’m quite new to Folksy. Joined 3 years ago but didn’t get to stay due to family issues. I’ve just rejoined and saw your post about the rule about not using .99 which I have used in all my listings. Can you explain why there is that rule and whether I need to change all my prices as I didn’t know about that. Thank you.
Not sure about rule .99. What is that?
I’m another that has never heard of the unwritten rule, either on Folksy or in the wider retail world, about not using .99, I don’t think it makes any difference than doing whole numbers, .50p, or .25p
Hi folks, I think you may have misunderstood slightly about .99. @CraftstoKeep, you can set whatever price you like on Folksy, there is no need to change them. What I am talking about is why .99 is used in big retail, and the psychology behind it. The .99p is used to make you look first at the pounds figure, so something that costs £2.99 you actually take in as £2, not £3. That’s why big shops will very rarely charge prices like £3.05, they will always lower it for the psychological effect. If you hand over £3 (in those old days where we could use cash :)), then you ‘get something back’, ie are handed one penny, which psychologically seals it as a 2-sided transaction.
So there’s no hard and fast rule, but I tend to find that small, artisan sellers avoid the .99 as it is smacks a a bit ‘big retaily’, which we are not. I don’t want to try and trick people into thinking they are paying less, I just price them at what I need them to be.