This Week in Pricing > 11/25/17

pricingnews-WeeklyThis Week in Pricing is a recap of the week’s best pricing focused news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals.

This Edition is brought to you by: 

 

 

Strategic Pricing Solutions

Strategic Pricing Solutions, LLC (SPS) is a management consulting firm helping clients with pricing strategies, data analytics, and pricing processes. SPS was formed by Scott Francis in 2005 with a vision of enabling B2B clients to build sustainable strategic pricing capability to significantly improve their profitability. By providing flexibility in how we serve our customers, SPS consulting enables clients to build sustainable strategic pricing capability and continuous improvement in profitability through better pricing decisions.

Click a link below to learn more…

 


 

Top Headlines

Supreme Court to rule on minimum pricing legal challenge | STV News

Supreme Court to rule on minimum pricing legal challenge | STV News

The UK’s highest court is to rule on a legal challenge over plans to use minimum pricing for alcohol to improve public health in Scotland. The Scottish Government has faced a years-long battle to introduce the legislation, which would create a minimum unit price for alcohol of at least 50p. The Supreme Court’s seven justices […]

 

Ticket prices becoming moving target at some Twin Cities theaters | StarTribune.com

Ticket prices becoming moving target at some Twin Cities theaters | StarTribune.com

The hottest ticket in town may be “Dr. Seuss’s How the Grinch Stole Christmas,” where the best seats will set you back $75. Wait, no. It’s $95. Nope, $90. What gives? Children’s Theatre Company uses dynamic pricing, which springs from the law of supply and demand. The strategy began with the airline industry, where consumers […]

 

Dynamic pricing: An efficient solution for true demand response enabling | Journal of Renewable and Sustainable Energy

Dynamic pricing: An efficient solution for true demand response enabling | Journal of Renewable and Sustainable Energy

ABSTRACT A dynamic pricing scheme, also known as real-time pricing (RTP), can be more efficient and technically beneficial than the other price-based schemes (such as flat-rate or time-of-use pricing) for enabling demand response (DR) actions. Over the past few years, the advantages of RTP-based schemes have been extensively discussed for DR purposes in electricity markets; […]

Tags: 

 

Start times for every major online Black Friday 2017 sale | BGR

Start times for every major online Black Friday 2017 sale | BGR

See that ridiculous crowd of Black Friday shoppers mobbing the store in the photo at the top of this post? We’re going to do our best to ensure you don’t end up anywhere near a scene like that for Black Friday 2017. If you learn one thing and one thing only from us this month, […]

Tags: ,

 

Thanksgiving 2017: How much will Thanksgiving dinner cost? | Business Insider

Thanksgiving 2017: How much will Thanksgiving dinner cost? | Business Insider

This year’s estimated Thanksgiving dinner price is a $0.75 decrease from 2016. The ABF attributes the declining cost to the falling cost of turkeys, which usually happens every year before Thanksgiving. For example, in the average year, November’s price per pound for turkey falls 10% lower than the price in September. As The New York Times’ Catherine Rampbell notes, grocery stores know […]

Tags: 

 

Why do Canadian stores even offer Black Friday sales? | Macleans

Why do Canadian stores even offer Black Friday sales? | Macleans

Despite its U.S. origins, Canadians have embraced Black Friday shopping with a fervor normally reserved for play-off hockey games. Consider the statistics being tossed around in recent weeks: More than half of all Canadians—or 19.3 million people—plan to take advantage of Black Friday and Cyber Monday (it’s online companion) sales, while 1.2 million say will […]

Tags: ,

 

Amazon Fashion Black Friday Sale 2017: Uggs, Adidas, Frye | NYMAG.com

Amazon Fashion Black Friday Sale 2017: Uggs, Adidas, Frye | NYMAG.com

Leading up to Black Friday and Cyber Monday, the Amazon fashion department is jumping the gun and having a big sale, with pages and pages of products that are mostly 30 (sometimes as much as 65) percent off. We spent yesterday half-watching the final season of Catastrophe and scrolling through the wares with a fine-tooth […]

Tags: ,

 

Apple Vs Samsung ‘Black Friday’ 2017: iPad, iPhone, Galaxy S8, Galaxy Note 8, HDTV Deals | Forbes

Apple Vs Samsung ‘Black Friday’ 2017: iPad, iPhone, Galaxy S8, Galaxy Note 8, HDTV Deals | Forbes

Black Friday 2017: Apple iPad Vs Samsung Galaxy tablets iPads are clearly the headline tablet around the world but Samsung’s Galaxy tablets are more affordable and often just as functional. Once again all deals prices are correct at the time of publication or will be when the deal goes live. Target – Beginning November 23 […]

Tags: ,

 

NFL Ticket Prices Tumbling to Less than $15 as Anthem Protests Continue | Breitbart

NFL Ticket Prices Tumbling to Less than $15 as Anthem Protests Continue | Breitbart

It has gotten increasingly hard for average Americans to afford to take their families out to sporting events, because the costs are so high. But as the NFL continues to lose fans, TV ratings, and moral authority, ticket prices have also crashed to unheard of lows. Recently National Journal editor Josh Kraushaar pointed out that […]

Tags: 

 

McDonald’s is Bringing Back the Value Menu – What it Means for Sales Strategy | CustomerThink

McDonald’s is Bringing Back the Value Menu – What it Means for Sales Strategy | CustomerThink

McDonald’s recently announced that they are bringing back their “Value Menu” in 2018. Formerly known as the “Dollar Menu,” McDonald’s is trying to offer a wider selection of low priced items to deliver everyday value prices to their customers. The former Dollar Menu was popular with customers but many McDonald’s restaurant franchise owners complained that the […]

Tags: 

 

Walmart’s e-Commerce Sales Continue to Surge | Market Realist

Walmart’s e-Commerce Sales Continue to Surge | Market Realist

Walmart (WMT) continued to impress with its e-commerce sales in fiscal 3Q18. During the quarter, its digital sales in the United States (SPY) rose 50%, driven by strong sales for Walmart.com. Innovative delivery mechanisms, money-saving and time-saving initiatives, expanded offerings, and strategic pricing helped the company report higher sales, despite stiff competition from Amazon (AMZN). […]

Tags: 

 

How much …? The rise of dynamic and personalised pricing | The Guardian

How much …? The rise of dynamic and personalised pricing | The Guardian

A recent survey of US consumers by Retail Systems Research (RSR) found that 71% didn’t care for the idea of dynamic pricing, though millennials were more amenable to the concept, with 14% of younger shoppers saying they “loved” it. Perhaps that ought not to be surprising, given the younger generation’s greater familiarity with browsing for […]

Tags: ,

 

 

More Headlines

Is the pricing right for e-commerce cargo? ǀ Air Cargo News

Is the pricing right for e-commerce cargo? ǀ Air Cargo News

Would it make more sense to set rates based on volume? Should they differentiate their pricing, levying different rates based on commodity and density? The traditional dollar-per-kilo formula looks ever more obsolete. The need to look at volume for pricing is set to rise exponentially, given the rapid growth in e-commerce. David Shepherd, commercial director […]

 

Ask SCORE: Skillful pricing brings power | Business in Savannah News

Ask SCORE: Skillful pricing brings power | Business in Savannah News

Deciding how to best price a product or service is one of the most fundamental, and for many small business owners, most difficult decisions they must make. A price is the monetary value the marketplace assigns to a product or service. It represents what a willing buyer and a willing seller agree is fair. Thus, […]

 

 

Ryanair’s Travel & Ticket: ‘A Natural Fit’ | Pollstar

Ryanair’s Travel & Ticket: ‘A Natural Fit’ | Pollstar

Flight tickets, like event tickets, are perishable goods, meaning one has a finite window to sell the complete inventory. In that regard, concert tickets are just the same as flight tickets. “Typically we’ll have a target for hitting the capacity levels of our flights. The theaters and venues should also be looking at it the […]

 

It’s Time trying to find out what Maple Ridge motorists think about transportation | Maple Ridge News

It’s Time trying to find out what Maple Ridge motorists think about transportation | Maple Ridge News

How much do you want pay, and how do you want to pay it, to get where you want to go? TransLink’s Mobility Pricing Independent Commission wants to hear your views in the next few weeks, from Nov. 6 to 26. The group that’s trying to figure out a road-pricing strategy for Metro Vancouver is […]

 

Is Your Vacation Rental Company Set Up for Dynamic Pricing? | VRM Intel

Is Your Vacation Rental Company Set Up for Dynamic Pricing? | VRM Intel

Going from setting rates once a year through a handful of seasons to having rates that change daily has major implications for all levels of the vacation rental organization. Whether using some sort of rules-based system from the property management software (PMS) that changes prices based on occupancy or number of days out or using a sophisticated, third-party revenue management system that changes prices […]

 

The best TV deals of Black Friday 2017 from Walmart, Best Buy, and more | The Verge

Black Friday is upon us, which means it’s the perfect time to purchase a new TV. There are dozens of deals from dozens of outlets, but don’t fret: we’ve pulled together an exhaustive list of the best TV deals you’ll find this year. The best TV to buy on Black Friday The best deal this […]

Tags: ,

 

Black Friday 4K TVs: What to know before you buy | CNBC

Black Friday 4K TVs: What to know before you buy | CNBC

You can save a lot of money if you’re buying a new TV on Black Friday, but there are a few things you need to know about first. I was just shopping for a new TV. I don’t really need a new one, but the prices are so low that I thought I could replace […]

Tags: ,

 

Walmart Vs Target: Best ‘Black Friday’ 2017 Deals | Forbes

Walmart Vs Target: Best ‘Black Friday’ 2017 Deals | Forbes

Walmart’s Black Friday 2017 sales discounts are huge but Target TGT -1.09%’s Black Friday deals are almost as impressive. So with a huge list of savings between them covering iPhones, Galaxy smartphones, Xbox and PS4 consoles, premium and budget HDTVs, Google Home and even Amazon’s Kindle and Echo which retailer comes out on top? Let’s […]

Tags: ,

 

Black Friday bargain hunting to benefit more than just retailers | Retail News Asia

Black Friday bargain hunting to benefit more than just retailers | Retail News Asia

Worldpay, a global leader in payments, has predicted that Black Friday and Cyber Monday mania will continue this year, but with a wider range of businesses expected to get in on the online action. Although the shopping event has traditionally been the realm of US retailers, the shopping event grew by 29% in Asia Pacific […]

Tags: ,

 

Can Robots Collude? | Lexology

Can Robots Collude? | Lexology

Businesses are increasingly using, developing and improving their ability to promptly respond to market conditions, innovate product offerings, and set prices using algorithms and artificial intelligence systems (AI). Algorithm pricing systems differ from traditional more ‘manual’ price setting practices as they can: Assimilate and process significant amounts of information relating to competitor prices, demand, price […]

Tags: 

 

4 Psychological Techniques That Can Improve Your Product Pricing | Entrepreneur

It’s no secret that successful marketers employ psychology in getting a sale. Sure, we humans love to think of ourselves as highly rational beings who weigh our options logically before making a decision; but several studies have confirmed the powerful role emotions play in purchasing. As Gerald Zaltman wrote in his book, How Consumers Think, […]

Tags: 

 

Lack Of Office Buildings For Sale Pushing Trophy Towers To Record Prices | Capital Markets

Lack Of Office Buildings For Sale Pushing Trophy Towers To Record Prices | Capital Markets

Earlier this year, State Farm’s headquarters in Central Perimeter shattered Atlanta’s office sale price record at more than $450/SF. It likely will not stand for much longer. … There is a particular lack of core office for sale, Tennery said. McDonald said what matters most to investors in these high-priced sales is less the money per square foot, and […]

Tags: 

 

This Is the Wrong Move for Wal-Mart | The Motley Fool

This Is the Wrong Move for Wal-Mart | The Motley Fool

Wal-Mart (NYSE:WMT) has built its image around offering “everyday low prices,” but the giant retailer’s latest move could put that reputation in jeopardy. According to The Wall Street Journal, Wal-Mart has been quietly raising prices for household items like Colgate toothbrushes and Kraft macaroni and cheese on its website. For certain items, Wal-Mart is listing prices in store that are slightly […]

Tags: 

 

Hours before launch, EA strips micro-transactions from ‘Star Wars: Battlefront II’ | TechCrunch

Hours before launch, EA strips micro-transactions from ‘Star Wars: Battlefront II’ | TechCrunch

Just hours before the full launch of Battlefront II, Electronic Arts has announced that they’re removing in-game micro-transactions entirely from the title for the time being as they look to rethink their pricing strategy. What drove EA to take micro-transactions out of one of the company’s biggest releases this year? A backlash that was rippling […]

Tags: 

 

Payless Announces Strategic Initiatives to Further Transformation | Markets Insider

Payless Announces Strategic Initiatives to Further Transformation | Markets Insider

Wade continued, “In just a few short months, we have made exciting progress to propel the iconic Payless brand forward and return the customer to the center of our business. To better connect with our customers, we are piloting a new pricing strategy and have launched Hispanic marketing in the U.S., helping us reach an […]

Tags: 

 

Uber water shipment shows trucking’s load-matching future | JOC

Uber water shipment shows trucking’s load-matching future | JOC

The problem was compounded by a tight trucking market. This fall, capacity in general is harder to find and comes at a premium price compared with 2016. In early September, hurricanes Harvey and Irma combined with the start of the peak trucking season and a healthier economy to absorb excess capacity and push spot market […]

Tags: 

 

Postal Service forecasts ‘much-needed revenue’ from approved rate hike | FederalNewsRadio.com

Postal Service forecasts ‘much-needed revenue’ from approved rate hike | FederalNewsRadio.com

“Making these payments in full or in part would have left us with insufficient cash on hand to ensure that we will be able to cover our current and our anticipated operating costs, make necessary capital investments and have adequate liquidity,” Corbett said. Amid the harsh reality of the Postal Service’s financial situation, Brennan also […]

Tags: 

 

Consumers using price transparency to budget, not comparison shop | BenefitsPRO

Consumers using price transparency to budget, not comparison shop | BenefitsPRO

People looking for health care coverage aren’t using price transparency tools to shop around for cheaper providers. Instead, says a new study, they use them to plan for out-of-pocket expenses. The Accenture study, reports Modern Healthcare, gives the lie to the claim that consumers will shop around for the cheapest providers if they know the […]

Tags: ,

 

Target’s holiday forecast disappoints, sending shares lower | CNBC

Target’s holiday forecast disappoints, sending shares lower | CNBC

Target is also growing its private-label brands and expanding in grocery. Some of those brands that have already launched in the apparel and home goods categories include “Joy Lab,” “A New Day” and “Hearth & Hand.” Meantime, the company is re-evaluating its pricing strategy, telling customers in September it will slash prices on thousands of […]

Tags: ,

 

Low housing supply keeps prices steady | Moneywise

Low housing supply keeps prices steady | Moneywise

Much like last month, property prices are continuing to go up – albeit at a fairly slow pace – especially when looking at properties that have been sold and have completed, as is the case with the UK House Price Index for September from the Office for National Statistics. It’s interesting to see that Rightmove […]

Tags: ,

 

Pricer’s Points: (10) Win at Print: Knowledge vs. Price | John Roche

Pricer’s Points: (10) Win at Print: Knowledge vs. Price | John Roche

So, you have a printing business and you want to make it a big success. What is the best commercial strategy for you to adopt in order to achieve this goal? Let’s bottom-line it for you: in today’s super competitive printing industry, it is all about the price. It is not always about the cheapest price, but it is always about the […]

Tags: 

 

Consumers use price transparency tools to financially plan, not shop around | Modern Healthcare

Consumers use price transparency tools to financially plan, not shop around | Modern Healthcare

The majority of healthcare consumers use price transparency tools to financially plan, a new survey found, contradicting claims that consumers will shop around for the cheapest providers if they know the price before obtaining care. The survey, released this week by Accenture, reported that nearly half of consumers, 46%, seek price information to budget for […]

 

‘Odd-Even’ policy to come back in Delhi next week | Newsburgh Gazette

‘Odd-Even’ policy to come back in Delhi next week | Newsburgh Gazette

The Aam Aadmi Party-led Delhi Government, past year implemented the alternate day travel, for cars with odd and even number license plates. “The odd-even formula can be a formula for traffic maintenance and management but not a formula to stop pollution”, Meenakshi Lekhi, the Bharatiya Janata Party’s New Delhi MP, told reporters. Tho ugh this […]

 

Mission impossible? Blame it on Jio | Deccan Herald

When Reliance Communications (RCom) launched with its “Monsoon Offer” prices in 2002, mobile call rates — and therefore customer bills, or the average revenue per user, a key metric in the telecommunications industry – fell drastically for the first time. Since then, India has ridden an expanding mobile telephony wave, with telecom companies hyper-competing with […]

 

As home prices reach pre-recession levels, has market truly recovered? | Curbed

According to a report from Realtor.com analyzing the property market since the Great Recession, the overall housing market has returned to pricing levels last seen in 2006. The U.S. median home sale price last year was $236,000, two percent higher than 2006. But that’s not a comparison meant to spook homeowners and investors fearing a […]

 

NFL Badly Needs A 21st Century Televising Strategy | Forbes

NFL Badly Needs A 21st Century Televising Strategy | Forbes

By a 1970s standard, the NFL is widely accessible given that local market NFL games are available over broadcast TV, subject to the NFL’s attendance blackout rules (which have been loosened in recent years). By a 21st century standard of accessibility, the league gets a C-minus. Out-of-market games can be accessed via satellite on DirecTV’s […]

 

State sues two more gas stations for Harvey price gouging | Houston Chronicle

State sues two more gas stations for Harvey price gouging | Houston Chronicle

AUSTIN — Big Willy’s and Tejano Mart are two of the latest gas stations Texas is going after for alleged price gouging during Hurricane Harvey. Attorney General Ken Paxton filed suit against the two businesses Monday, saying both charged “excessive” prices for gasoline. Big Willy’s, with locations south of the Dallas-Fort Worth metroplex, allegedly charged […]

 

Hurricane Harvey price-gouging: Burleson gas station sued | Fort Worth Star-Telegram

Hurricane Harvey price-gouging: Burleson gas station sued | Fort Worth Star-Telegram

Big Willy’s owner Prem Suhalka of Burleson could not be reached for comment Monday night. Suhalka also owns Big Willy’s store in Cleburne, Mineral Wells and Whitney, according to the lawsuit. The price-gouging lawsuit included a picture of a Big Willy’s sign, showing the price of gas to be $4.99 per gallon, as well as […]

 

 


Featured Content and Events

Book: 8 Keys to Price Optimization

Book: 8 Keys to Price Optimization

Summary: Price optimization enables companies to move beyond cost-plus pricing and determine the range of prices that could be charged for a variety of customers and products. Price optimization can increase current operating income by 1 to 4% of sales, which in many cases will translate into a 20 to 50% increase in operating income. The most sophisticated […]

 

DigitalPricingSummit_300x250

Conference: Digital Pricing Summit | IQPC

Pricing transformation through digital disruption.

DIGITAL TRANSFORMATION AND E-COMMERCE | DIGITAL PRICING STRATEGIES FOR B2C | E-COMMERCE PRICING IN THE B2B CONTEXT | VALUE CREATION AND CHANNEL MANAGEMENT | DIGITAL SUBSCRIPTIONS AND PAYMENTS | REVENUE MANAGEMENT & COMMERCIAL EXCELLENCE

  • Understand how digitalisation and online services are changing the future of commerce
  • Develop superior pricing strategies in the highly competitive B2C space
  • Explore how digital transformation and ecommerce are interdependent in the B2B context
  • Value creation, communication, managing partners and channel conflict
  • Leverage margin enhancement in digital subscriptions and leveraging digital payment platforms
  • Identify revenue management and commercial strategies for pricing excellence
  • Learn about setting up ecommerce platforms, subscriptions, data analytics and applications for pricing excellence.


The following is a daily-dose of pricing cartoons and quotes, enjoy…

– – – – – – – – – – – –

“The show is not selling, let’s raise prices!”

     – Ronda Helton

 


 

Pricing Resources

Pricer’s Points Blog Series

This blog series provides a forum for pricing professionals to share their insights and experience. Our guest bloggers share their knowledge about specific product or industry challenges, geographic complexities, strategies, tactics, and technologies.

Check out some recent additions…

Top Discussions

This blog category offers a collection of top pricing related conversations on LinkedIn or in the comments section of pricing related blogs and articles.

Check out some recent favorites…

Pricing News LinkedIn Group

Join 1,000’s of your peers in the our LinkedIn discussion group. The group offers a place to share the latest pricing strategy and technology, news, events, resources, thought leadership, and discuss the latest pricing related successes and failures in the news.