Price Increase Justification Strategies to Build Customer Trust 🧯
Price justification scrutiny is a common part of doing business. All companies face it at some point. In Australia, this scrutiny is intense. Some executives, like Darren O’Brien of Mondelēz, even accuse the business culture of profit shaming. They argue that public criticism of price increases…
Can Retailers Successfully Use AI Tools for Value-Based Pricing? 🤖
Retailers are using AI pricing tools more and more to improve their competitive pricing strategies. AI tracks competitors’ prices in real-time, helping businesses adjust their own prices to stay ahead. It allows for quick changes based on the market. Many companies think AI will help them…
What Businesses Can Learn From Walmart’s Pricing Strategy Backlash 🏷️
Innovating pricing practices are essential for businesses to maintain competitiveness in today’s dynamic market. This is exemplified by the new pricing strategy of Walmart and its implementation of digital shelf tags and labels. As consumer expectations evolve rapidly, companies must continuously innovate their pricing to stay…
What is the Best Strategy for a Supermarket During Price Wars? 🧨
Supermarkets are currently changing their pricing strategies. They lower prices and claim it’s to offer more value to shoppers. This move seems timely, especially with rising living costs. However, it’s important to ask if these price cuts truly provide value. While they attract customers now, the…
Can Cinemas Set Movie Ticket Prices Based on Demand? 🎞️
Cinemas are exploring innovative revenue strategies, including dynamic pricing. This method adjusts cinema movie ticket prices based on demand and other factors. The key question is whether this approach will succeed over time. As the industry experiments, we need to evaluate if dynamic pricing delivers long-term…
