Pricing
July 9, 2015 at 1:59 pm
The world’s leading retailers understand the promise of big data and analytics. They know competitors are finding insights and making advances, and many have seen their own pilot projects deliver measurable gains in marketing efficiency, sales or margins. Data-driven insights can create value across a business, helping managers tailor assortments at the store level, simultaneously…
July 6, 2015 at 2:22 pm
Whole Foods co-CEOs John Mackey and Walter Robb have apologized after investigations revealed customers in its New York City stores were being overcharged for some items. “Straight up, we made some mistakes. We want to own that and tell you what we’re doing about it,” said Robb in a special video. The duo asserted that…
July 1, 2015 at 2:30 pm
A federal appeal court Tuesday upheld a ruling charging Apple of illegally conspiring to inflate e-book prices to consumers, despite a vigorous legal battle from the company. The appeal is a win for the Justice Department which accused the gadget maker in 2012 of orchestrating an abusive e-book pricing policy with book publishers. Many of…
June 29, 2015 at 1:36 pm
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…
June 25, 2015 at 2:42 pm
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…
June 15, 2015 at 2:19 pm
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…
June 8, 2015 at 4:23 pm
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…
June 1, 2015
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.
May 21, 2015 at 3:41 pm
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…
May 19, 2015 at 4:30 pm
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…
