Soupy Sales
10/02/2015 |
The Friday File: Ever wonder why supermarkets offer sale items with an absurd limit of 12/person? Anchoring bias and arbitrary rationing! Anchoring bias says that just seeing the number 12 in relation to soup will boost demand. Arbitrary rationing (any sort of limit) suggests that the item is selling fast and you should buy. When the store imposed no limit on the number of cans, sales fell by half!