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- Through a series of studies, the authors found that buyers are more likely to buy now if they see a single large price decrease or a series of smaller price increases, because they’ll assume that the price will go up if they wait.
hbr.org/2023/01/research-how-price-changes-influence-consumers-buying-decisionsResearch: How Price Changes Influence Consumers’ Buying Decisions
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Why is price history important in online shopping?
What is price history?
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Jan 20, 2023 · Whether you’re looking to buy a plane ticket or a pair of socks, more and more online shopping platforms now offer consumers a detailed look into products’ historical prices.
- Discounts and Promotions
- Value For Money
- Ecommerce Transparency
- The Pricing Strategy
Always be the cheapest or to have the best offers? It is important to know from the outset what position the brand wants to achieve with its pricing strategy. In many cases, a timely offer from an online store that has become a reference for the user can be much more attractive than the 'always lower' price of other ecommerce.
Offer the lowest price or show the best quality-price? These two options do not have to be at odds with each other, although experience shows that an excessively low price of a product can generate mistrust, especially in users who land for the first time in an ecommerce. In addition, if these users have already purchased similar products in other ...
The honesty of ecommercein terms of its prices is a determining factor in the user's perception before making a purchase decision. Stores that are looking to increase sales with very low-priced deals that then skyrocket at the time of payment are not the model to follow. In fact, this type of strategy is one of the most rejected by potential buyers...
The price, obviously, affects the image that the user has of the brand and the trust that it conveys. And if the pricing strategyis one of the fundamental pillars of any online store, even more important, if possible, consistency and honesty. In the digital environment, saturated with options, tools such as price comparators are increasingly used b...
Analyzing price history, you get a chance to remain at the “maximum of the minimum” price range – statistically the most efficient policy for online sales. Consider sales insights While analyzing competitors’ price history, pay special attention to events like a weekend or seasonal sales and customers’ reactions.
Mar 7, 2023 · Bookmark. Summary: Whether on retailers’ own platforms or through third-party price tracking services, today’s consumers often have access to detailed information regarding changes in a product’s price over time. But how does this visibility influence their purchasing decisions?
Sep 12, 2019 · Research suggests that, for 70% of consumers, price is either very important (15%) or important (55%) in making their purchasing decision.
Price History is a free tool to check price history charts for millions of products. With our advanced Price Tracker you can track price for popular Indian stores such as Amazon, Flipkart, Myntra, Ajio, Croma & many more.
When it comes to online shopping, historical price is an important factor to consider. product's price history can help you determine if now is the time to buy, or if you should wait for a better deal. Price history is the record of how a product's price has changed over time.
