Drip Pricing
What is Drip Pricing? A price is quoted. Then, at various stages of the sale completion, additional charges are added, or dripped, to the total. The final price is a fair bit higher than the original price; this is drip …
Category: pricing
An Experiment With Coffee Prices
By not really changing the price of coffee the University of Winchester campus has used 34,000 less the disposable cups in the first year. How? By removing rewards and introducing penalties. See the video here from BBC News. This all …
Nothing Sells Like a Sell-Out
Years ago, I said, “Nothing sells like a sell-out.” This was an observation that demand for stock items was always lower than for out of stock products. There is some compelling logic behind this; if all vendors are out of stock, …
Is Black Friday Good for UK Retailers?
We seem all too happy to follow US fads; Halloween and “have a nice day” continue to grate on me. One of our latest adoptions is Black Friday. I set out to look at the impact on retail profits and …
Decoy Pricing to Make More Dough
Don’t put your prices down, use a decoy. Let me explain the idea with a case study from Williams-Sonoma, an American publicly traded consumer retail company that sells kitchenwares and home furnishings. Williams-Sonoma introduced a home bread making machine for …
How to sell the benefits of no discounts
This was the message I saw on a software website: Looking for an Academic Discount? With our new simplified pricing, we no longer have a separate academic store. Instead our new, greatly reduced prices are available to all customers. What …
Poundworld claims take a pounding
What an interesting concept, the manager’s special being 3 to 9 times the price of the rest of the stock in store. When is a pound shop not a pound shop? When it sells items for £8.99, according to the …