OnDemand WTP Pricing Research

Tag: omnichannel retailing

The unintended consequences of tinkering with online prices | Phys.org

The unintended consequences of tinkering with online prices | Phys.org

When your online retail platform clears billions of transactions a year, what’s the harm in testing different prices for the same products on a relative handful of your customers? You might find a way to maximize revenue by increasing sales volume on your lower-priced products, right? Or, you might lock down sales on a product […]

‘Dynamic pricing’ can train us to shop smarter | Futurity

‘Dynamic pricing’ can train us to shop smarter | Futurity

When your online retail platform clears billions of transactions a year, what’s the harm in testing different prices for the same products on a relative handful of your customers? You might find a way to maximize revenue by increasing sales volume on your lower-priced products, right? Or, you might lock down sales on a product […]

Will Target’s dynamic pricing strategy erode customers’ trust? | RetailWire

Will Target’s dynamic pricing strategy erode customers’ trust? | RetailWire

In a two-month investigation conducted by Minneapolis TV station KARE, it was uncovered that Target changes its prices on certain items depending on whether you are inside or outside of the store. In one example, Target’s app price for a Samsung 55-inch Smart TV was $499.99, but in the parking lot of one of their […]

Utilising Dynamic Pricing In Offline Retail | Intouch Insights

Utilising Dynamic Pricing In Offline Retail | Intouch Insights

Traditional pricing is set either based on the cost of production or on the price that competitors are charging. This ancient method has been slow to shift into the new and fast paced online world that we live in today. Dynamic pricing is when a company changes their pricing to match demand and supply. Whether […]

Personalized marketing will be huge in 2019 | The Next Web

Personalized marketing will be huge in 2019 | The Next Web

What the industry predicted for 2018 2018 was heralded by many as the year when personalization would go mainstream, especially in retail. Salesforce analyzed the shopping activity of 150 million shoppers across millions of websites and identified personalized product recommendations as a key revenue driver in the industry. The assumption was that we’d see unique […]

How does AI affect dynamic retail pricing? | ITProPortal

How does AI affect dynamic retail pricing? | ITProPortal

Let’s look at the ways that AI and machine learning affect dynamic pricing in the retail industry and how this model differs from personalised pricing. Today’s consumers will be familiar with Uber’s ‘surge’ pricing at rush hour, increased electricity costs during peak usage periods or fluctuations in hotel room rates over the Christmas or summer […]

1 in 5 UK retailers think pricing strategy is unimportant | eCommerce News EU

1 in 5 UK retailers think pricing strategy is unimportant | eCommerce News EU

Pricing may be more important than ever before, but in the United Kingdom, many retailers  underestimate the importance of price and simply don’t monitor prices at all. And when they do, they are spending too much time on this. This can be concluded from research done by Omnia Retail. The company surveyed 150 retailers (34% pure […]

Should a Company Reveal Its Cost Structure to Customers? | UCLA Anderson School of Management

Should a Company Reveal Its Cost Structure to Customers? | UCLA Anderson School of Management

For brands these days, millennials are the 500-pound gorilla: They get what they want, and what they want is transparency — about a seller’s supply chains, business practices and environmental impacts. Companies are responding with increased openness with one big exception: their costs. When it comes to disclosing what they pay for raw materials, labor […]

U.S. Black Friday Sales See More Tradition, Less Frenzy | Seeking Alpha

U.S. Black Friday Sales See More Tradition, Less Frenzy | Seeking Alpha

U.S. consumers went out on Thursday, Nov. 22 – Thanksgiving evening – to shop for Black Friday deals, but it was not the same as previous years. A decade ago, shoppers rushed to the malls for doorbuster deals, and felt a sense of urgency to take advantage of the timely promotions before they disappeared. Today, […]

U.S. Shoppers Storm the Stores in Black Friday Frenzy | Bloomberg

U.S. Shoppers Storm the Stores in Black Friday Frenzy | Bloomberg

Shoppers across the U.S. poured into stores for Black Friday at the traditional kickoff of the holiday gift-giving season. Buoyed by a strong economy, spending is expected to surpass $1.1 trillion over the entire holiday period, according to a forecast from Deloitte. Here’s a glimpse of the retail frenzy. Read complete article here: U.S. Shoppers Storm the Stores in […]