The effect of lucky price end numbers on consumers’ intention to purchase a product

• Libin Chen

  Beijing Technology and Business University

• Huanli Mu

  Beijing Technology and Business University

• Ke Ma

  Beijing Technology and Business University

• Lin Jiang

  Renmin University

Consumers’ cognition of a number or numbers in prices as being lucky can affect their purchase intention. We carried out four experiments with 450 undergraduate students to investigate their purchase intention when buying products with price end numbers that they considered to be lucky or unlucky. The results show that participants in the group that was offered the product with a lucky price end number had higher purchase intention when they experienced negative (vs. positive) emotions, were superstitious, felt they had lost control, or had experienced a significant event. When they had experienced a significant event, that is, taking the College English Test Band 4, participants were more likely to avoid an unlucky price end number. Our findings indicate that retailers should consider the influence of lucky number pricing on consumers’ choices when implementing pricing strategies.

1. Libin Chen, Beijing Technology and Business University

   Business School

2. Huanli Mu, Beijing Technology and Business University
   Business School
3. Ke Ma, Beijing Technology and Business University
   Business School
4. Lin Jiang, Renmin University

   School of Business

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