OnDemand WTP Pricing Research

Tag: Pricing Algorithms

Confusing train ticket jargon axed as rail bosses aim to simplify pricing on 100,000 routes | VIVA Lifestyle Magazine

Confusing train ticket jargon axed as rail bosses aim to simplify pricing on 100,000 routes | VIVA Lifestyle Magazine

Changes being made by rail companies this week will mean jargon has been slashed on tickets, making it easier for passengers to buy and use the right ticket. Train companies will be making it even easier to get the right ticket for people travelling on over 100,000 routes by slashing jargon such as ‘Any Permitted’ […]

How is MAP Pricing enforcement easy for business? | CustomerThink

How is MAP Pricing enforcement easy for business? | CustomerThink

Every business used to safeguard their brands because they need the protection of all sizes. To avoid this issue, implementing map enforcement is the best techniques to carry out everywhere. It is nothing, but it carries out advertising price policy and set by minimum range. Based on the plans, it would establish to declare minimum […]

Are Online Shopping Algorithms Colluding the Prices? | CIO Review

Are Online Shopping Algorithms Colluding the Prices? | CIO Review

FREMONT, CA: While shopping online, it’s rare to witness a change in the price of a product within a short period. But as of recent, the trend is changing. The retailer’s pricing algorithm might be the underlying reason for the altered price. When deciding a product’s price, marketers consider the cost of similar products and […]

Grocers: It’s Time to Disrupt Your ‘Traditional’ Predictive Analytics Approaches | Progressive Grocer

Grocers: It’s Time to Disrupt Your ‘Traditional’ Predictive Analytics Approaches | Progressive Grocer

THE AI APPROACH The AI approach is based on processing all the available data and evaluating the connections and relationships between every single product, which sheds light on the various “ripple” effects – such as cross-category cannibalization/affinity, promotional and price elasticities, and forward-buying – that occur across the entire retailer’s product assortment anytime a decision […]

The Dawn of AI-Driven Price Management | RIS News

The Dawn of AI-Driven Price Management | RIS News

Want to devastate your financial performance? Simple. Get pricing wrong. And yet, 42% of retailers still primarily use spreadsheets for pricing and 34% use internally built software. What’s the problem with these traditional tools? For starters, both are incapable of supporting big data, machine learning and artificial intelligence (AI). You know, science. Which is a […]

Predictive Analytics: Optimizing Pricing And Promotions In E-Commerce Means Combining Tools | Retail TouchPoints

Predictive Analytics: Optimizing Pricing And Promotions In E-Commerce Means Combining Tools | Retail TouchPoints

Most retailers are already engaged in data analytics and predictive modeling. Today, using data to predict more successful outcomes — ultimately leading to increased sales — is not as mystifying a concept as it was even a year ago. But with a market being upended by an omnichannel imperative and consumer demand for instant gratification, […]

Algorithms feeding unsustainable price cuts online | Retail Dive

Algorithms feeding unsustainable price cuts online | Retail Dive

While consumers and sellers alike may think that Amazon itself is driving price competition, it’s now often third-party marketplace sellers, on Amazon and Walmart, that initiate price-based skirmishes, according to the report. Dynamic pricing algorithms have enabled retailers to detect every online price change, including temporary promotions, and that’s, “leading to race-to-the-bottom behavior and permanent drops […]

Lessons learned from the EU’s algorithmic price war that ripped off consumers | SmartCompany

Lessons learned from the EU’s algorithmic price war that ripped off consumers | SmartCompany

Algorithms used by the retailers In principle, a retailer or merchant could use the API provided by the platform to manage their pricing. Research at Northeastern University has shown that merchants on Amazon Marketplace that use algorithmic pricing have greater sales. However, merchants may not have algorithm design as a core skill. This was illustrated when a […]

mrbrown talks increasing fares for public transport | The Independent

mrbrown talks increasing fares for public transport | The Independent

Popular blogger mrbrown posted on his Twitter account yesterday about a suggestion he received to implement a surge pricing system for public transport. mrbrown, or Lee Kin Mun, said in his tweet that “Someone just suggested surge pricing for Public Transport”. In his tweet, he shared a screenshot of a letter to the Straits Times […]

Consider dynamic pricing for public transport | The Straits Times

Consider dynamic pricing for public transport | The Straits Times

Perhaps it is time the public transport sector also starts to use dynamic pricing strategies, where fares rise during peak hours, just like fares for taxis. There will always be a demand for public transport. Even if each commuter is charged a few cents extra during peak hours, people will still use public transport because […]