Many businesses use either odd or even pricing formats as psychological tactics to influence customers’ decision-making. The odd pricing technique occurs when a product is priced at an odd-numbered figure (Schindler and Chandrashekaran 512). On the other hand, even pricing occurs when a product is priced at a round figure. Pricing is not just about numbers because it plays a significant role in influencing consumers’ perception. The main objective of this review is to illustrate the differences between even pricing and odd pricing formats. The literature is aimed at discussing specific pricing formats based on odd and even pricing methods. It is aimed at discussing a theoretical framework, which supports the notion that each of the pricing formats influences the perception of consumers. In order to achieve the above objectives, the following research questions have been developed to guide the review. Which one is the most preferred by customers between odd pricing and even pricing? To what extent do odd pricing and even pricing affect the perception of buyers? Is there a supporting theory for these pricing methods? To answer the research questions, we have analyzed the findings based on two specific pricing formats for odd and even formats. For odd pricing, we have chosen $ 99.99, and for even pricing, $ 100.00 has been selected. The experimental context of the review is based on a clothing store in the European market with a sample of 100 customers who bought clothes from the store. In the experimental context, 100 male customers were observed based on their perception of the pricing formats. The commodities were priced in odd and even formats. For the purposes of the review, our interest was in men’s black suits that were sold at $ 100.00 dollars and $ 99.99, respectively. From the observation, 75 percent of the customers bought suits charged at $ 99.99, while the remaining 25 percent bought suits charged at $ 100.00. Among those who bought suits charged $ 99.99, 90 percent of them cited the price as the main influencing factor, while 10 percent of the buyers just found themselves buying the oddly priced suits. All customers who bought the $ 100.00 suits cited the quality as the main influencing factor. Pricing is a complex issue that depends on many things. Many scholars have put specific emphasis on the influence of pricing formats on demands. For instance, using 99 as odd pricing has led to more purchases of a particular product as compared to even pricing ending in 00 (Schindler and Chandrashekaran 514). Odd pricing format does not influence the consumers’ decision to buy but increases the quantity they buy. It does not just increase the product’s demand but also has a stronger influence on the demand for a new product as compared to even pricing (Gauguin and Celine 383). In addition, when customers have limited access to information about the product, odd pricing becomes more effective than even pricing. In order to support the finding from our experiment context, we have used the prospect theory to justify the influence that pricing format has on consumer’s sensitivity. The theory illustrates that undecided consumers are lured by price value based on loses and benefits provided by the price with respect to a given reference value (Wagner and Beinke 345). It supports the notion of customers being highly sensitive to losses than they are to gains. Consequently, a customer perceives a few cents below a whole unit as a benefit. This explains the reason why 75 percent of sample customers bought odd priced suits, as compared to 25 percent who