subtitlecat.com

All language subtitles for 10. Left-digit effect

Afrikaans Download

Albanian

Amharic

Arabic

Armenian

Azerbaijani

Basque

Belarusian

Bengali

Bosnian

Bulgarian

Catalan

Cebuano

Chichewa

Chinese (Simplified)

Chinese (Traditional)

Corsican

Croatian

Czech

Danish

Dutch

English

Esperanto

Estonian

Filipino

Finnish

French

Frisian

Galician

Georgian

German

Greek Download

Gujarati

Haitian Creole

Hausa

Hawaiian

Hebrew

Hindi

Hmong

Hungarian

Icelandic

Igbo

Indonesian

Irish

Italian

Japanese

Javanese

Kannada

Kazakh

Khmer

Korean

Kurdish (Kurmanji)

Kyrgyz

Lao

Latin

Latvian

Lithuanian

Luxembourgish

Macedonian

Malagasy

Malay

Malayalam

Maltese

Maori

Marathi

Mongolian

Myanmar (Burmese)

Nepali

Norwegian

Pashto

Persian

Polish

Portuguese

Punjabi

Romanian

Russian

Samoan

Scots Gaelic

Serbian

Sesotho

Shona

Sindhi

Sinhala

Slovak

Slovenian

Somali

Spanish

Sundanese

Swahili

Swedish

Tajik

Tamil

Telugu

Thai

Turkish

Ukrainian

Urdu

Uzbek

Vietnamese

Welsh

Xhosa

Yiddish

Yoruba

Zulu

Odia (Oriya)

Kinyarwanda

Turkmen

Tatar

Uyghur

Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 00:00:00,030 --> 00:00:02,040 - Hi. I'm William Lidwell. 2 00:00:02,050 --> 00:00:05,070 And this is Universal Principles of Design. 3 00:00:05,080 --> 00:00:08,070 In this movie, the Left-Digit Effect 4 00:00:08,080 --> 00:00:12,040 when the price is right. 5 00:00:12,050 --> 00:00:14,990 Walk the aisles of any grocery store, 6 00:00:15,000 --> 00:00:17,990 or browse any e-commerce site online, 7 00:00:18,000 --> 00:00:20,000 and you'll find that most products 8 00:00:20,010 --> 00:00:23,050 have prices that end in "99". 9 00:00:23,060 --> 00:00:25,030 Retailers clearly believe there is 10 00:00:25,040 --> 00:00:27,990 some benefit to ending prices this way. 11 00:00:28,000 --> 00:00:29,040 But what is it? 12 00:00:29,050 --> 00:00:34,050 And where did this idea come from? 13 00:00:34,060 --> 00:00:36,000 The convention first appeared in 14 00:00:36,010 --> 00:00:39,020 newspaper ads in the late 1800s. 15 00:00:39,030 --> 00:00:41,990 Nobody knows for sure what started the trend, 16 00:00:42,000 --> 00:00:45,070 but one theory is the introduction of the cash register. 17 00:00:45,080 --> 00:00:48,000 Or, as it was named at the time, 18 00:00:48,010 --> 00:00:50,060 the "Incorruptible Cashier". 19 00:00:50,070 --> 00:00:53,050 You see, prices ending in "99" 20 00:00:53,060 --> 00:00:56,000 required cashiers to make change, 21 00:00:56,010 --> 00:00:58,060 announcing sale with the rings and dings 22 00:00:58,070 --> 00:01:00,070 of the mechanical register. 23 00:01:00,080 --> 00:01:02,990 This prevented unscrupulous clerks 24 00:01:03,000 --> 00:01:04,080 from silently pocketing bills 25 00:01:04,090 --> 00:01:06,080 when checking out customers. 26 00:01:06,090 --> 00:01:11,010 But that was then. What about now? 27 00:01:11,020 --> 00:01:14,010 Researchers have found that consumers overweigh 28 00:01:14,020 --> 00:01:16,040 the left-most digits of prices, 29 00:01:16,050 --> 00:01:20,040 a tendency they dubbed the Left-Digit Effect. 30 00:01:20,050 --> 00:01:23,010 This effect suggests that our emotional reaction 31 00:01:23,020 --> 00:01:25,070 to the difference between, for example, 32 00:01:25,080 --> 00:01:31,000 $29.99 and $30 is not as if it was $0.01, 33 00:01:31,010 --> 00:01:35,080 but as if it was $1. Or in some cases, even more. 34 00:01:35,090 --> 00:01:38,030 When we consciously think about the pricing, of course, 35 00:01:38,040 --> 00:01:40,990 we know the difference is only a penny. 36 00:01:41,000 --> 00:01:44,030 But our subconscious emotional reaction responds 37 00:01:44,040 --> 00:01:46,030 as if the difference is greater. 38 00:01:46,040 --> 00:01:49,070 This likely happens because we read from left to right, 39 00:01:49,080 --> 00:01:51,060 and our emotional reaction happens 40 00:01:51,070 --> 00:01:53,020 as soon as we process 41 00:01:53,030 --> 00:01:55,070 the first digit in the sequence. 42 00:01:55,080 --> 00:01:57,060 The result of the Left-Digit effect 43 00:01:57,070 --> 00:02:01,990 can mean an increase in sales of up to 15%, 44 00:02:02,000 --> 00:02:03,990 which is why this pricing strategy 45 00:02:04,000 --> 00:02:07,060 continues to be used today. 46 00:02:07,070 --> 00:02:09,050 But employing the Left-Digit Effect 47 00:02:09,060 --> 00:02:11,990 isn't always a good strategy. 48 00:02:12,000 --> 00:02:14,060 For example, one study found that prices 49 00:02:14,070 --> 00:02:17,060 ending in 99s not only indicated 50 00:02:17,070 --> 00:02:19,080 discounted pricing to consumers, 51 00:02:19,090 --> 00:02:22,010 but also low quality. 52 00:02:22,020 --> 00:02:25,000 Or as prices ending in round numbers indicated 53 00:02:25,010 --> 00:02:28,020 high prices, but also high quality. 54 00:02:28,030 --> 00:02:30,060 So 99s may be good for Walmart, 55 00:02:30,070 --> 00:02:33,010 but not so good for Neiman-Marcus. 56 00:02:33,020 --> 00:02:35,040 And in many non-Western cultures, 57 00:02:35,050 --> 00:02:38,020 The additional complexity of 99s in prices 58 00:02:38,030 --> 00:02:40,020 is perceived as the retailer being 59 00:02:40,030 --> 00:02:44,000 tricky or deceptive. 60 00:02:44,010 --> 00:02:45,080 So whether you use your knowledge 61 00:02:45,090 --> 00:02:49,060 of the Left-Digit Effect to increase sales in your business, 62 00:02:49,070 --> 00:02:51,040 or, merely to help you resist those 63 00:02:51,050 --> 00:02:53,070 bargain-basement holiday specials. 64 00:02:53,080 --> 00:02:56,000 Remember: There is power in knowing 65 00:02:56,010 --> 00:00:00,000 when the price is right. 4836