Pricing

Shoppers were up in arms regarding accusations that Whole Foods Market has been overcharging consumers for its prepackaged food, including several who threatened to boycott its stores. The accusations were brought by New York City's Department of Consumer Affairs, which said last Wednesday that after testing 80 various package types from the high-end grocer, all…

Whole Foods supermarkets have been routinely overcharging customers by overstating the weight of prepackaged meat, dairy and baked goods, New York City's consumer chief said Wednesday. The price on a package of coconut shrimp at the upscale market was too high by $14.84, said Department of Consumer Affairs Commissioner Julie Menin. A package of chicken…

Michael Kors Holdings Ltd agreed to pay $4.88 million and change its sales practices to settle a class-action lawsuit claiming it used deceptive price tags at its outlet stores to fool shoppers into believing they were getting big bargains. The preliminary settlement was filed on Friday in Manhattan federal court, and requires court approval. Michael…

With the growth of e-commerce, comparison shopping websites and apps as well as coupon services have sprouted up to satisfy the needs of price-sensitive consumers. With more options available to them, price has become a differentiating factor for many shoppers as they consider the merits of buying the same or similar product from one retailer…

You’ve slaved over your product or service; you’ve done creative marketing campaigns that drove results; you’ve researched and established a fair price. Your job as an online marketer is done, right? Actually, you’re missing a key part of the conversion picture. Price presentation can have a huge impact on your conversion rate.

Kohl’s is about to try its hand at “off price” retail, becoming the latest retail chain to open an outlet store to lift sales and profits. The department store will open a single 30,000 square-foot store in Cherry Hill, N.J., near Philadelphia, in June that will be stocked with “like new” clothes, accessories and home…

There are two pricing strategies that are particularly helpful for online retailers: psychological pricing and comparison pricing. They actually complement each other nicely. Psychological pricing taps into the way that our brains work to offer great deals in the eyes of the consumer. While there are many different forms of psychological pricing, they all have…

Macy’s is launching Macy’s Backstage to help it spur growth. The outlets will offer clearance goods from Macy’s stores as well as brand

Gap's namesake chain just introduced its "resolution denim," which it plugs as its best stretch line, but they're already 30 percent off full price (provided you try them on first). At Abercrombie & Fitch Co., a new denim ankle legging is half off. While consumers have long known to wait for the sale, it's becoming increasingly difficult for specialty retailers to get consumers to pay full price for anything, says Credit Suisse analyst Christian Buss, who has tracked promotions the past 18 months.

Dynamic pricing is a topic that's been getting a lot of attention lately. It's come a long way since it publicly debuted in the airline industry in the 1980s. Now we're used to seeing it across many different industries. From Uber to Amazon.com, many businesses are putting their own spin on dynamic pricing. But what is it exactly? To put it simply, it's a flexible pricing strategy in which businesses alter their pricing based on a number of factors, both internal and external.