Anchoring in sales
Lesson 7 of 12 in our free Money Mindset guide: a 5-minute money game with the key points below.
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Questions you'll answer
A hoodie was £120, now £84. What percentage discount is that?
Which question best breaks an anchor?
Quick facts
- Red flag: “RRP £150, NOW £59!” — A huge 'RRP' it may never have sold at is an anchor to make £59 feel like a steal.
- Red flag: “Compare: the Premium version at £240” — A decoy. The silly-priced option exists to make the middle one look reasonable.
- Red flag: “You've saved £91 today!” — You didn't 'save' £91 — you spent £59. Savings only count if you'd have bought it anyway.