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No Currency Symbol

 

DisciplinesMarketing > Pricing > No Currency Symbol

Description | Example | Discussion | See also

 

Description

Display prices almost always use a currency symbol, such as £, ¥, $, etc. Try omitting, this, just showing the number.

The strongest way to indicate price without a currency symbol is to include two places after the decimal point. This is usually better than just displaying a single whole number without the decimal point.

Example

A store shows prices displayed at something like 4.55 and 3.00 rather than $4.55 and $3.00.

A business-to-business company shows just numbers on the price column of its invoices.

Discussion

Currency symbols remind people that money is involved and can put them off, perhaps at an unconscious level. When a person is uncertain about buying, even such a small thing can nudge them in the wrong direction.

While we expect a currency symbol, it is not strictly necessary as the price-tag context makes the number obvious. The decimal and two digits after this again help significantly.

Yang et al (2009), in a study of restaurant pricing, found that 'Contrary to expectations, guests given the numeral-only menu spent significantly more than those who received a menu with prices showing a dollar sign or those whose menus had prices written out in words'. Furthermore, they noted that, 'Psychological theory, by contrast, predicted that the scripted format would draw higher sales'.

See also

Font Effects

 

Yang, S.S., Kimes, S.E. and Sessarego, M.M. (2009). $ or Dollars: Effects of Menu-price Formats on Restaurant Checks, Cornell Hospitality Report, 9, 8, 6-11

 

 

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