Odd-even pricing involves more than just setting all of your prices to finish in .99. Even more deeply rooted aspects of the psychology of numbers affect how we judge the value of a brand or product.
Prices that finish in a 9 denote good value, whereas prices that end in a 0 denote a more expensive product. Utilizing the power of numbers allows you to gently place your items in the minds of consumers, but there is a danger that, if done incorrectly, you may wind up hurting your brand.
Odd pricing sometimes resonates as deals or reductions with value-conscious buyers, which encourages larger purchases and impulsive shopping. Most of these customers spend less time determining whether to make the purchase or not and are less worried about the danger of buying more than they need since they believe they are receiving a good bargain.
Odd pricing might not be for you, though, if you're searching for quality-conscious customers with high retention potential. Using pricing that finishes in even numbers would be more appropriate for businesses that wish to be perceived as more of a high-end brand, or that offer premium goods or services. For example, you can often see companies like Dior or Gucci using even pricing.