Can raising prices increase conversion rate?

A higher price can signal quality. Pair it with a percentage discount and it can feel like a better deal than a flat lower price. That’s why I’m in favour of any price test you can run.

Here’s a clean one. Raise your prices by 10% in one market and offer a 10% off sign-up pop-up there. Then compare the opt-in rate and conversion rate against your existing offer. If the higher price with the discount does better, you’ve got your answer.

When you pick the market, I’d do the easiest. If you sell through retailers somewhere, their pricing would need to change too, so choose a market where you only sell direct.