Trends in retail pricing: A consumer perspective

Ian Yeoman (), Carol Wheatley and Una McMahon-Beattie
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Ian Yeoman: Victoria Business School, Victoria University of Wellington
Carol Wheatley: Victoria Business School, Victoria University of Wellington
Una McMahon-Beattie: Department of Hospitality & Tourism Management, Ulster University

Journal of Revenue and Pricing Management, 2017, vol. 16, issue 2, No 7, 174-200

Abstract: 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.

Keywords: retail; prediction; future; pricing; consumer behaviour; price sensitivity (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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DOI: 10.1057/rpm.2016.35

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