What does a community college drop out know about pricing strategy? Well Dave Gold apparently knew more than you’d expect. Gold inherited his father’s liquor store in the early 1960’s after he passed away. Not knowing much of the business, Gold decided to experiment and started in the most obvious way: pricing.

They had previously sold wine at various prices, ranging from 70 cents to upwards of a dollar, but they had noticed that 99 cents generally worked better. He decided to run a simple test for wine, setting a fixed price point of 99 cents. …

Aly Juma

Writer that designs — or is it the other way around? VP of eCommerce at function of beauty, creator of t-shirts, and lover of books.

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