💡Suggested Tests

Opportunities for finding winning prices and increasing the monthly profits generated by your store are unlimited.

Below you will find some of the best tests you can set up with ABsolutely:

Straddle Test

Start with a test where you both increase and decrease your current prices by the same amount. This could be an increase/decrease of 10% or any amount you deem reasonable.

A straddle test will give you a good idea about where you currently stand with your pricing strategy, whether you are overpricing your products or underpricing them.

After seeing the results, you will have a good idea about which direction you should go for future tests.

Double Down

Let's say the straddle test showed that you were underpricing your products, and actually a 10% increase in prices turned out to be more profitable.

With a Double Down test, you can further test the theory of increasing prices by comparing the 10% increase with a 15% or a 20% increase in prices.

Price Anchoring

Customer psychology is influences not only by the price displayed, but the perception of the value a customer is getting.

One of the best ways to utlize this is by price anchoring, or showing a strikethrough price to convey the value they are getting currently, as opposed to the regular price.

In this case, you would keep the price a customer pays constant, but change the compare price (strikethrough) to see which one performs better. Results can be surprisingly profitable!

Charm Pricing

We've all seen prices ending with $.99 and wondered if this really has an effect on purchased, but the truth is that it very often does.

If you're selling a product for $90 for example, try a test comparing it with $89.99 or $89 and see how customers react.

Price Decoy

This is one of the best consumer psychology hacks. If you're selling a 8oz product for $20 for example, try also selling another similar product, let's say the 4oz variant for $18.

Virtually no one will buy the 4oz variant for $18, but this decoy created the feeling that the same 8oz product for $20 is a complete steal, bringing incredible resutls.

Bundle Price

Bundles can be a great way to improve the average order value and the conversion rate of your store, and can have profound impact on sales.

By testing bundle prices, you can see the effect it has on single product sales as well. Sometime decreasing bundle prices can be the most impactful way to increase AOV as with a low enough price, customers switch their decision from buying a single prouct to trying a whole bundle.