Which retail pricing innovation was introduced by Macy's in the 1880s and revolutionized how stores present prices to create the perception of better value?

In retail pricing strategy, psychological pricing has been a game-changer for consumer perception and purchase decisions. One specific pricing innovation transformed how retailers present prices worldwide, creating the illusion of better value while maximizing profits. This technique remains one of the most widely used pricing strategies in global retail. Test your knowledge about this influential retail pricing phenomenon that continues to shape consumer behavior decades after its widespread adoption.

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Charm pricing (prices ending in 9, like $9.99)
Bundle pricing (buy one get one free)
Prestige pricing (deliberately high prices for luxury perception)
Dynamic pricing (prices that change based on demand)