Fast-food chains use psychology trick to make you spend more money on their menu items: report

Fast food is often viewed as one of the cheapest ways to grab a meal, but some deals that look like bargains may be doing more to boost restaurant profits than protect consumers’ wallets . At the center of the strategy is a pricing tactic known as the “decoy effect,” a psychological phenomenon in which a less attractive third option subtly nudges customers toward a more expensive choice, according to the journal Electronic Commerce Research and Applications . Fast-food chains frequently use this tactic to steer customers toward higher-priced items, Chowhound reported .

“It’s meant to make the ‘right’ option feel obvious,” Mike Ford, CEO of Skydeo, told FOX Business. “The decoy effect proves that pricing is less about math and more about psychology. Brands that understand that win.” CHINESE