We’re pleased to announce that over the next month, we’re going to roll out “charm pricing”, where list prices and discount prices will be set and displayed as ending in “.99” by subtracting 1 cent from the current price. The example below illustrates what this will look like in US dollars.
Charm pricing is a retail best practice used to increase sales and signal to consumers that they’re getting a good deal. From Apple to Amazon, most retailers use charm pricing as a way to communicate value to consumers. We’re excited to adopt this retail standard to generate more sales for you by better highlighting your course’s value to students!
What are we doing?
- Over the next month, we’re doing a phased rollout of charm pricing for both list and discounted prices.
- We’ll automatically change the display of list and discounted prices of published courses to reflect charm pricing. For any new courses, you’ll be able to set your list price and discounted price as $XX.99 (in USD as an example), and any existing coupons will still be valid. If you’d like to apply charm pricing to an existing coupon, we’re happy to help! Please let us know by filling out this form.
- We’ll enable charm pricing in all supported currencies except Indian Rupee, Japanese Yen, Mexican Peso, Norwegian Krone, South African Rand, South Korean Won, Taiwanese Dollar, and Thai Baht. We’re not enabling charm pricing in these currencies because it is either not a best practice in these markets or current market conditions do not allow for it.
Timing: We’re rolling out charm prices in a phased manner to ensure a smooth transition. We’ll first apply charm pricing to discounted prices and then to list prices.
- Limited Beta for discounted prices in Canada December 18-21: We’re running a limited Beta for courses sold in Canadian dollars from December 18 to December 21, 2017 where only discounted prices will be shown as $XX.99 by subtracting 1 cent from the original discounted price. We’re running this beta to get the experience right before we roll charm pricing out to all other supported currencies. Instructors who set their course prices in Canadian dollars will also be able to create coupons as $XX.99 during this period.
- Discounted prices rollout on January 1: We’re rolling out charm pricing for discounted prices on January 1, 2018 for all currencies except the ones mentioned above.
- List prices rollout in mid-January: We’re rolling out list prices with charm pricing at $XX.99 in mid-January for all supported currencies except the ones mentioned above, and we’ll keep you updated on the timeline.
We’re excited about enabling charm pricing to create more value for our instructors and students. If you have any questions, please email email@example.com. We’re happy to help!