Which pricing strategy in food retail is known as 'charm pricing' and has been shown to increase sales by making products appear less expensive than they actually are?

In the competitive food retail industry, pricing strategies play a crucial role in influencing consumer purchasing decisions. One particular psychological pricing technique has proven especially effective in grocery stores worldwide. Test your knowledge about this subtle but powerful marketing approach that affects how we perceive food product values and make purchasing decisions.

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Prices ending in .99 or .95 (e.g., $9.99 instead of $10.00)
Buy-one-get-one-free (BOGO) promotions
Bundle pricing (e.g., meal deals with multiple items at a set price)
Dynamic pricing based on time of day (lower prices during off-peak hours)