Here's a real life example.
On social media someone posted a screenshot from
the bio of Elon Musk, founder of SpaceX and Tesla, among other companies. That screenshot, along with reviews I'd read and other chatter about the book that I'd consumed convinced me to go to Amazon and make a uncharacteristic (for me) full-price purchase of non-fiction tome.
At Amazon it's listed at $16.99 for the Kindle edition. At 9.99-12.99, I'd have continued with the impulse purchase. At $16.99 I closed that browser tab and went to my local library in search of either the e or p-book.
From the original article:
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“Since book buyers expect the price of a Kindle e-book to be well under $9, once you get to over $10 consumers start to say, ‘Let me think about that,’” said Codex CEO Peter Hildick-Smith.
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Publishers succeeded in preventing Amazon from lowballing prices, but “unfortunately, it may be that consumers aren’t happy with the higher prices,” said Mike Shatzkin, chief executive of publishing consulting firm Idea Logical Co.
Hachette cited fewer hot titles and the implementation of its Amazon deal as reasons that e-books fell to 24% of its U.S. net trade sales in the first half of 2015, from 29% a year earlier. Declining e-book sales contributed to a 7.8% drop in revenue in the period.
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