Tag: Behavioral Psychology

How retailers and brands can avoid the race to the bottom in online pricing | Digital Commerce 360

How retailers and brands can avoid the race to the bottom in online pricing | Digital Commerce 360

An unrestrained price war on average cuts the price of goods by 3.9%. Retailers and brands can make use of technology to monitor trends, identify opportunities and take a variety of actions to stay away from such drastic price cutting. There is no denying that Amazon and online shopping as a whole have changed the […]

Startup’s solution lowers prices on food as expiration date approaches | Food Dive

Startup’s solution lowers prices on food as expiration date approaches | Food Dive

In the fight against food waste, a high-tech solution similar to the one Wasteless offers is one potential weapon. Lowering prices on products as they approach their sell-by dates could motivate more shoppers to make a purchase and generate revenue on products that would otherwise be tossed out. According to the U.S. Department of Agriculture, […]

Amazon already undercutting prices on over-the-counter pills | The Star Online

Amazon already undercutting prices on over-the-counter pills | The Star Online

NEW YORK: As pharmacy chains await Amazon.com Inc’s entry into the prescription-drug market, the online retail giant is already undercutting them for non-prescription medicine for aches, colds and allergies. Median prices for over-the-counter (OTC), private-brand medicine sold by Walgreens Boots Alliance Inc and CVS Health Corp were about 20% higher than Basic Care, the OTC […]

Pfizer’s Logical Approach to Price Increases | Strategic Pricing Solutions

Pfizer’s Logical Approach to Price Increases | Strategic Pricing Solutions

Last week Pfizer announced increases in the list prices of more than 40 drugs for the second time within the year.  The increases average 9.4%.  Although there could be some political backlash, the pricing strategy is logical.  Pfizer is recognizing their pricing power, they are incorporating buyer psychology into their process, and they are taking […]

Bordeaux ’17 Pricing Causes Backlog of Wine Stocks, Liv-ex Says | Bloomberg

Bordeaux ’17 Pricing Causes Backlog of Wine Stocks, Liv-ex Says | Bloomberg

High prices for Bordeaux 2017 compared with similar prior vintages, and restrained demand from buyers focusing on a few top labels, is leading to wine stocks backing up at merchants in the French port and a squeeze on margins through the supply chain, according to London-based online wine market Liv-ex. Average 2017 prices for wines […]

Ticket scalping bots are robbing true fans of iconic, live events | The NewDaily

Ticket scalping bots are robbing true fans of iconic, live events | The NewDaily

Automated scalping bots are snatching up Australian event tickets in bulk far more quickly than genuine fans can secure a single ticket, amid mounting pressure for a crackdown on ticket bots. Tickets to major events are increasingly selling out within minutes – and while high demand may partly contribute to this, fans have questioned why countless tickets […]

Value Pricing in the PR Profession | ODwyer’s

Value Pricing in the PR Profession | ODwyer’s

So, what’s value pricing in the PR business, or the accounting business for that matter? I once asked the late Al Croft if he ever used value pricing when he was in the agency business. He told me he had three billing rates: administrative, tactical and strategic. This does meet the definition of value pricing; […]

Target narrows pricing gap with Walmart | Food Dive

Target narrows pricing gap with Walmart | Food Dive

While the Clark Howard comparison is an informal look, research from data scientists backs up the consumer advocates’ work. Earlier this year, Profitero found that the most intense price competition is among Walmart, Target, Jet and Amazon. On average, the average online prices of those first three combined are just 4.5% more than Amazon, Profitero found. […]

Something you can’t use at a price you can’t resist | Medium

Something you can’t use at a price you can’t resist | Medium

I admit it: I own a pair of Ferragamo shoes that blister my big toes after a couple hours. They were on sale for $250. Half a size small, I rationalized that they’d break-in, despite knowing better — Ferragamo shoes justify their $1,000 price (to me) with shocking longevity and unchanging fit. I grok the allure of […]

Cut in app-cab surge pricing | Telegraph India

Cut in app-cab surge pricing | Telegraph India

Representatives of Ola and Uber declined to comment on the proposed cap on fares and whether they had agreed to restrict surge pricing to .45x. Uber said in an official statement later that the company was “committed to continue to engage with the government” towards ensuring that it works in the best interest of “riders […]