โAnchoring Effect: The First Price You See Changes Everythingโ The Anchoring Effect is a cognitive bias where people rely too heavily on the first piece of information (the โanchorโ) they see when making decisions โ especially in pricing. Businesses use this to influence what you perceive as a โgood deal.โ For example, if a product is originally โน5,000 but shown as โNow only โน2,999,โ your brain compares it to the anchor price of โน5,000 and sees it as a bargain. Luxury brands show high-priced items first to make everything else look more affordable. Anchoring shapes perception, increases conversions, and drives upsells โ and itโs used everywhere from retail to real estate and subscription models. Follow for more Only buziness
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