Are Advanced Pricing Strategies Too Complex For Consumers? 🧞♂️
Pricing strategies have undergone significant evolution. From traditional fixed prices, businesses now embrace advanced dynamic, personalised, and drip pricing models. However, this shift brings complexity and raises concerns about fairness and transparency. Consequently, consumers often feel uncertain and question the equity of their purchases. >Download…
How to Effectively Set a Deflationary Retail Price for Essentials 🪡
Retailers explore deflationary pricing to retain demand and win back price-sensitive customers. After years of price increases for essentials, this strategy is crucial in retail. Economic conditions evolve, so understanding and implementing these tactics is essential. Effective deflationary pricing helps sustain competitiveness and market share. Carefully…
What is Surge Pricing? Why are Different Companies Using it? ⚙️
Surge pricing is expanding into numerous industries, adjusting prices according to demand fluctuations. This strategy, commonly used in transportation, now infiltrates the entertainment, hospitality, and energy sectors. Its widespread adoption highlights its effectiveness in maximising profits during peak periods. Acknowledging what the reason is for the…
Analysis of Starbucks’ Recent Sales and Pricing Strategy Failure 🥐
In our previous analysis, we highlighted how a value-based pricing strategy has helped Starbucks achieve global success. Now, however, Starbucks’ sales are declining. Where did they go wrong? In response, they are introducing value meals and a bundled pricing strategy to win back customers lost due…
How Major Events Affect Price Setting In Hotel Booking 🍾
Event-driven pricing is transforming the hotel industry by adjusting the booking price rates based on major nearby events. This strategy gains traction as it maximises revenue during high-demand periods. Hotels can charge higher rates when demand peaks and strategically offer last-minute discounts to fill remaining rooms….