Trends in retail pricing: A consumer perspective

I Yeoman, C Wheatley, Una McMahon-Beattie

Research output: Contribution to journalArticle

3 Citations (Scopus)
63 Downloads (Pure)

Abstract

The Global Financial Crisis has brought about considerable change in consumer behaviour, from increased price sensitivity to the use of price comparison websites. This article goes beyond the surface and identifies 10 consumer behavioural patterns that are occurring now and moving into the future. The pattern of trends, which will impact upon everything from branding to strategy, are: mobile living, price sensitivity, gamification of price, pricing inefficiency, big data and promotions, concierge living, is loyalty dead, discounting forever, managing complexity, and choice and maximising behaviour. Each pattern of behaviour is robustly explained and supported by empirical evidence provided by the Future Foundation. The article concludes with four predictions that the patterns are driving namely, loyalty, temporary permanence, deals and value.
Original languageEnglish
Pages (from-to)174-200
JournalJournal of Revenue and Pricing Management
Volume16
Issue number2
Early online date27 Jul 2016
DOIs
Publication statusE-pub ahead of print - 27 Jul 2016

Keywords

  • retail
  • prediction
  • future
  • pricing
  • consumer behaviour
  • price sensitivity

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