Ninety Nine – “99”. It’s true – consumers really are drawn to prices that end in “99.”
We recently conducted some research that analyzed just how much more used car shoppers gravitated to used car listings ending in “99” and the results were conclusive: there was a significant lift in clicks from vehicle search results to the all-important and high-converting Vehicle Detail Pages when a vehicle’s price ended in “99” compared to those that didn’t.
So how do dealers typically price their used vehicles? We looked at over 3.5 million listings and found that most don’t end their prices in “9.” In fact, only 7% of them ended in “99,” while 18% ended in “95” and 14% ended in “00.”
The Oldest Trick in the Book
To figure out how dealers could price vehicles to improve consumer interest, we started with an obvious question: what effect does ending a price in 9 have on consumer interest and conversion?