Status: Occurring Prescription: Sell more by killing uncertain pricing (unless you have an inelastic good) “Thousands of businesses – from packaged goods to retail to tech – are losing millions in sales by playing games with hidden pricing. And, they’re inflicting a mild form of psychological torture on customers, sowing the seeds of discontent. Like […]
Prescription: Eliminate Opaque Pricing Before It Kills Sales Read More »
[This post is part of The McFuture series. An abridged version appeared on Forbes] There’s soooo much talk about innovation and disruption. You’d think we’d wake up every morning to find the sidewalk is now a river, your cat is a robot, and Kitt from Knight Rider is your car…and your spouse. Yes, change is happening. Amazon
Ever wander into some fancy deli and try to make sense of a wall of exotic snacks? Luxurious corn crisps dusted with rare cheeses, caviar, or truffles from Dumbledore. Indulgences you only thought existed on Gwyneth Paltrow’s fleet of organic yachts. The only thing each package has in common is a conspicuous lack of pricing.
Last Saturday, my father gave me a ride from Brooklyn to Manhattan. Not only was this a great way to get a life lecture from an all-knowing immigrant while trapped in his car, it was also a lesson in price inefficiency. Driving is a series of small decisions. The biggest one on this trip was
Time for Dynamic Pricing for Tolls and Other Businesses Read More »