From haggling to game theory – The Atlantic explores the complexity of retail pricing today and the equilibrium between consumers and retailers to find the ‘right price’ for an item. The rise of sophisticated algorithms has provided retailers with access to vast amounts of data and the tools to experiment in their pricing strategies. There are opportunities for both online and offline retailers along the continuum of providing simplified, transparent pricing and dynamically optimised consumer offers.
Will you pay more for those shoes before 7 p.m.? Would the price tag be different if you lived in the suburbs? Standard prices and simple discounts are giving way to far more exotic strategies, designed to extract every last dollar from the consumer.
You wait 24 hours to book that flight, only to find it's gone up by £100. You wait until Black Friday to buy that leather jacket and, sure enough, it's been marked down. Today's consumers are getting comfortable with the idea that prices online can fluctuate, not just at sale time, but several times over the course of a single day.
Using Car As A Service is becoming reality for more consumers as mainstream automotive brands such as Porsche, Volvo and Cadillac all launch their own subscription services offering a range of vehicles with all-inclusive costs. A trend to watch, particularly in combination with ride share services such as Uber and Lyft and changing consumer preferences around consumption vs ownership. Will you ever need to purchase a car outright again?
Join us in New York this Wednesday and Thursday for Ad Age Next, a new event where top marketers and innovators such as Procter & Gamble, Amazon, Wayfair, Google, Walmart, The Washington Post, Burger King, Twitter, Bloomberg and Headliner Labs will explore AI, chatbots, voice marketing, rapid-fire creative iteration, next-level ad blocking, VR and even the way we see the future.
Good insights from Ben Thompson from Stratechery on Stitch Fix’s recent IPO, their ability to build a differentiated business from the outset and their focus on profitability/ positive unit economics.
There was an interesting line of commentary around the news that Stitch Fix, the personalized clothing e-commerce company, was going to IPO: these numbers are incredible!
A noble cause, but a seemingly piecemeal solution. Surely, as others have pointed out, images could be hashed locally, thus avoiding the need to send images to Facebook and images could be reviewed by exception.
Facebook is asking users to send the company their nude photos in an effort to tackle revenge porn, in an attempt to give some control back to victims of this type of abuse.