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Trends in retail pricing: A consumer perspective

Yeoman, I, Wheatley, C and McMahon-Beattie, Una (2016) Trends in retail pricing: A consumer perspective. Journal of Revenue and Pricing Management, 16 (2). pp. 174-200. [Journal article]

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DOI: 10.1057/rpm.2016.35

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.

Item Type:Journal article
Keywords:retail; prediction; future; pricing; consumer behaviour; price sensitivity
Faculties and Schools:Ulster Business School > Department of Hospitality and Tourism Management
Ulster Business School
ID Code:35923
Deposited By: Professor Una McMahon-Beattie
Deposited On:15 Mar 2017 11:44
Last Modified:08 Nov 2017 11:45

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