OnDemand WTP Pricing Research

Tag: Ecommerce

Using e-commerce data to build successful pricing strategies |  BizCommunity

Using e-commerce data to build successful pricing strategies | BizCommunity

Euromonitor International’s new report, ‘How to optimise your pricing strategy using e-commerce data’, looks at how building an effective pricing strategy is critical to the successful sales and marketing of any product. According to the company’s research, global brick-and-mortar retail sales experienced a decline between 2013 and 2018, while e-commerce more than doubled to reach […]

Columbia Business School Research Finds that Customization of Pricing Is Not Always the Best Strategy for Retailers or Consumers | Columbia Business School

Columbia Business School Research Finds that Customization of Pricing Is Not Always the Best Strategy for Retailers or Consumers | Columbia Business School

NEW YORK, March 21, 2019 /PRNewswire/ — As large retail chains compete with online retailers to maintain their hold on the market, a Columbia Business School study shows that it’s time to stop trying to meet consumers based on their geography. For decades, retailers have employed the strategy of adjusting their pricing store-by-store to match local […]

The Consequences of Amazon’s Pricing Power – Goods & Services | Medium

The Consequences of Amazon’s Pricing Power – Goods & Services | Medium

How Price Anchoring Works Whenever we are presented with a buying opportunity, whether at the grocery store, a restaurant, or shopping for jeans online- our brains have to estimate whether the price of the product (or service) is good or bad. If you’re going out for coffee, for example, and you see that a latte […]

Consumers can outsmart online discount strategies, study finds | St. Louis Post-Dispatch

Consumers can outsmart online discount strategies, study finds | St. Louis Post-Dispatch

Discounts, coupons and limited-time specials are a time-honored way of juicing revenue, but stores don’t always think about their long-term effects. Once customers get hooked on discounts, regular prices lose all credibility. J.C. Penney’s revenue plummeted a few years ago when it tried to wean customers off constant markdowns. In the online world, where a […]

Pressured by Amazon, retailers are experimenting with dynamic pricing | Digiday

Pressured by Amazon, retailers are experimenting with dynamic pricing | Digiday

While customers might expect price consistency when shopping at the same store online or in person, prices are actually varying across channels: A customer shopping on the Target app could arrive in the store just to see the same item selling at a different price. An online Target shopper, meanwhile, could be getting access to […]

Study Reveals Issues with Online Pricing Strategies | ShopSafe

Study Reveals Issues with Online Pricing Strategies | ShopSafe

Research conducted by academics in Bologna has revealed that while safe shopping online can often be the best way for consumers to hunt for a bargain, the rise of AI-controlled pricing systems might make this harder to achieve in the future. Experts warn that algorithms used to balance prices automatically across a number of major […]

‘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 […]

Cathay Pacific again accidentally sells first-class tickets for a fraction of the price | ABC News (Australian Broadcasting Corporation)

Cathay Pacific again accidentally sells first-class tickets for a fraction of the price | ABC News (Australian Broadcasting Corporation)

Less than two weeks after a Cathay Pacific ticketing error led to premium seats being sold for economy fares, Cathay Pacific has accidentally sold tickets from Europe to Hong Kong for less than a tenth of their usual prices. The South China Morning Post (SCMP) reported that first-class tickets from Portugal to Hong Kong were […]

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 […]

Cathay Pacific Accidentally Sold $16,000 Seats for $675 | Time

Cathay Pacific Accidentally Sold $16,000 Seats for $675 | Time

All eyes are on Cathay Pacific Airways Ltd. as it decides what to do with the tickets that it appeared to have sold in error at a fraction of their prices. Asia’s biggest international carrier sold business-class tickets from Vietnam to Canada and the U.S. at economy prices earlier this week, according to bloggers. Return […]