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Opinion: How Experiments Influence Customer Decisions in a Digital-First World

Retail TouchPoints

This is famously called psychological pricing or charm pricing. Retailers also use bundle pricing strategies, wherein organizations sell a set of goods with lower prices than they would have charged if the customer bought all of them independently. market basket analysis.

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Pricing Strategies Explained: Which One is Right for You?

Wiser

For example, airline ticket prices go up during holidays or when flying to certain locations, like Orlando, Florida (Walt Disney World). Coats and sweater prices go down during summer months when the weather is warm there isn’t as much need for them. Bundle Pricing. Dynamic Pricing.

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How to Price for Long-Term Growth and Profit

Wiser

Dynamic pricing refers to a pricing strategy where sellers can optimize their prices based on real-time inputs with the goal of maximizing revenue. It is sometimes known as “price discrimination.” ” Dynamic prices can change alongside market demands or outside conditions, such as time or location.

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10 Leading Strategies for Pricing New Products (2021)

Retalon

Retailers that offer delivery, maintenance, and other services can use captive product pricing. Bundle pricing. With bundle pricing, retailers sell complementary items together at a combined price that is lower than the sum of their individual prices. Optional product pricing.

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Maximizing Sales with Effective Product Merchandising

CJ Retail Solutions

Retailers should carefully consider factors such as pricing psychology, competitive pricing analysis, and promotional pricing tactics to determine the most effective pricing strategy for their products.