JCPenney’s no-sales pricing strategy isn’t working because it expects consumers to think rationally about shopping — except we’re not wired that way; we’re wired to want deals.

JCPenney's no-sales pricing strategy isn't working because it expects consumers to think rationally about shopping — except we're not wired that way; we're wired to want deals. Consumers would rather buy a $7 t-shirt that's marked down from an artifically inflated price than the same $7 t-shirt at full price. (Ad Age)