A few decades ago pricing was fairly predictable, the more demand meant you could lower cost and raise price, less demand often meant the reverse. Aggressive promotions became single focus for the multiples in the 90’s, especially BOGOFs, as they were simple for consumers to understand and in expandable categories meant increase in consumption. But now, thanks to mobile and hyper local real time data, there is an interesting growth in promotion, guidance and shopping sites . Here are 3 to watch
Spaaza allows you to pay an individual price based on your social influence, i.e. how valuable a shopper are you…. http://www.spaaza.com
Peddl is like a hyper local version of ebay, allowing local deals to be pounced on that day. Peddl.
Ever been frustrated because the hotel you booked now has the same room at a lower price? Fear not, book with Tingo and you can rest assure that if the room does change price Tingo will de book and re book at the new lower rate making sure you get the best value. This in essence flattens the demand curve making the lowest price obtainable for all…. great if you’re going on holiday but worrying if you own a hotel.
Marzipan and Marmite
I also think that shoppers are no longer embarrassed to admit that they bargain shop, rather price-savy pride!
justsmyle
Absolutely, although do you believe the growth in interesting digital approaches, from social kudos to game based benefits, means promotions now feel relevant to another group of more image conscious consumers? Fairly interesting area to keep track of….