Dynamic pricing is now a standard practice in digital commerce, yet the impact of unannounced price reductions on customer experience remains underexplored. While most research has focused on price increases and perceived unfairness, this study investigates how price reductions, introduced dynamically during online journeys without explicit communication, shape users’ emotional, cognitive, and behavioural responses. Using a mixed-methods design, 22 participants completed tasks on a real telecommunications website while interacting with a multi-step purchase process that included a subtle mid-journey price reduction. Participants were categorized post hoc based on whether they noticed the price change. Their responses were captured through physiological data, self-reported measures, behavioural tracking, and post-task interviews. While both groups completed the purchase, their experiences diverged. Participants who became aware of the price drop reported increased cognitive strain, fairness concerns, and reduced confidence. In contrast, unaware participants experienced a smoother, less effortful journey with more stable emotional states. These findings challenge the assumption that lower prices universally enhance experience. Instead, they highlight the moderating role of awareness in shaping user perception and engagement. The study reframes dynamic pricing as a touchpoint within user experience design rather than a purely economic lever. It contributes to the literature on pricing fairness, emotional engagement in digital services, and consumer behaviour under algorithmic pricing. Practically, it offers actionable insights for designing dynamic pricing strategies that account for transparency, awareness, and emotional impact.