International Journal on Science and Technology

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Beyond the Price Tag: Exploring the Influence of Psychological Pricing on Consumer Purchase Intent in Apparel Retail

Author(s) Samanwita Majumdar, Riya Yadav
Country India
Abstract Retail pricing strategies are much more than just financial transactions; they are also effective psychological instruments that have the ability to subtly affect the attitudes and actions of customers. In the retail apparel industry, which is marked by frequent discretionary purchases and emotional engagement, psychological pricing has become a popular tactic used by marketers to increase perceived value and boost sales. This study aims to investigate how consumer behavior in urban apparel markets is affected by psychological pricing strategies, particularly charm pricing (e.g., ₹499 instead of ₹500), odd pricing, and related tactics. The study's main goals are to: 1. To analyze the relationship between psychological pricing and purchase intent among urban apparel shoppers. 2. To assess the level of consumer awareness regarding psychological pricing techniques in the apparel retail sector.
Using a quantitative research methodology, the study employs a structured questionnaire that is given to a sample of urban consumers from a range of demographic backgrounds. Regression analysis is one of the statistical techniques used to assess the connection between psychological pricing factors and customer reactions. The null hypothesis (H₀) that psychological pricing has no discernible effect on consumer purchasing intent serves as the foundation for the study. Although psychological pricing is still a useful strategy for increasing product appeal and encouraging purchases, preliminary findings indicate that consumer awareness of these tactics may moderate their overall efficacy. It is anticipated that the results will theoretically and empirically advance the study of pricing psychology and consumer behavior, as well as have practical ramifications for clothing retailers looking to adjust their pricing strategies to suit changing urban consumer sensibilities.
Keywords Psychological Pricing, Purchase Intent, Apparel Retail
Field Business Administration
Published In Volume 16, Issue 2, April-June 2025
Published On 2025-05-16
DOI https://doi.org/10.71097/IJSAT.v16.i2.5194
Short DOI https://doi.org/g9kc5s
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