Tag: Reference-Based Pricing

California Burlington Coat Factory Deceptive Pricing Class Action Settlement | Top Class Actions

California Burlington Coat Factory Deceptive Pricing Class Action Settlement | Top Class Actions

Burlington Coat Factory of California LLC has agreed to settle a class action lawsuit alleging it used deceptive “Compare” reference prices on price tags which led customers to believe they were receiving a bargain over the same merchandise sold at other retailers. If you purchased items from a Burlington Coat Factory store in California or […]

How to set discounts for various related products | New Neuromarketing

How to set discounts for various related products | New Neuromarketing

So, what makes a specific chocolate bar different or better compared to others? Why would some shelves sell out immediately and are some shelves gathering dust? Well, we can think of many reasons like flavor (caramel seasalt, yeah!), brand, but for a large part: price. Unfortunately, a pricing strategy can be challenging, complex, and offers […]

Will more customer data mean the end of discounting? | National Retail Federation

Will more customer data mean the end of discounting? | National Retail Federation

“Uber wouldn’t be Uber without dynamic pricing. It’s what makes the service economical when demand is low, and reliable when demand is high,” Van Ryzin said. “That reliability is key to our service, and it’s dynamic pricing that makes that possible.” That’s because surge prices incentivize drivers, increasing the supply when needed so that customers […]

NRF 2017: Uber calls for retailers to consider surge pricing | Essential Retail

NRF 2017: Uber calls for retailers to consider surge pricing | Essential Retail

Over the last seven years, Uber has revolutionised the transportation industry. But this revolution has not been the invention of the flying car, explained Garrett Van Ryzin, head of marketplace optimisation advanced development at Uber, instead it uses technology to create a marketplace for hire cars, Speaking at NRF 2017 in NYC, Van Ryzin said […]

Dear marketers, here are 10 artificial intelligence trends to watch out for in 2017 | BrandEquity

Dear marketers, here are 10 artificial intelligence trends to watch out for in 2017 | BrandEquity

Dynamic pricing: Algorithms enable automated demand-led pricing Driven by high-performance computing and analytics, dynamic pricing enables retailers to price items at a point determined by a particular customer’s perceived ability and willingness to pay. Pricing on some website and apps now changes from minute to minute. For example, Uber introduced its surge pricing algorithm to […]

In a Real-Time World, the List Price Has No Relevance | RTInsights

In a Real-Time World, the List Price Has No Relevance | RTInsights

The fabled standard price will disappear There have been a number of lawsuits alleging retailers are engaging in deceptive pricing by claiming markdowns from an arbitrary “price list.” The issue was first highlighted in 2014, when a group of California district attorneys brought a false advertising suit against Overstock.com, accusing the online retailer of using […]

Have consumers accepted dynamic pricing? | RetailWire

Have consumers accepted dynamic pricing? | RetailWire

Presented here for discussion is a summary of a current article published with permission from Knowledge@Wharton, the online research and business analysis journal of the Wharton School of the University of Pennsylvania. Although dynamic pricing got negative press when ride-sharing platform Uber used it to dramatically increase prices during surge times, consumers are becoming accustomed […]

The Battle Between Dynamic Pricing And The Bots That Will Defeat Them | D!gitalist Magazine

The Battle Between Dynamic Pricing And The Bots That Will Defeat Them | D!gitalist Magazine

In a frequently cited example, dynamic pricing is used, with great effect, in the airline industry. Before we take a look at this, it’s worth recapping a few things about the industry’s economics. In its most recent forecast, the International Air Transport Association (IATA), projects industry-wide, net post-tax profits rising from $12.9 billion in 2013 […]

Objective and dynamic pricing | Nofima

Objective and dynamic pricing | Nofima

Nofima cooperates with the fishing industry to provide an objective source of information, so that it may be possible to design a new pricing system in the primary market for whitefish. The work brings together information on everything from biological conditions along the coast and fish migration to the historical pricing of whitefish in Norway, […]

Pricer’s Points: 4 pricing tactics to boost revenues without increasing price | Alexander Stahmer

Pricer’s Points: 4 pricing tactics to boost revenues without increasing price | Alexander Stahmer

Pricing is not just about having the right price point, but to a large extent also about having the right price perception. Behavioral pricing is an area that provides you with several different tactics on how to communicate price and adjust your offer so that the price looks right.  #1 Offer alternatives and the ‘anchor’ effect […]