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Trends in retail pricing: A consumer perspective

Author

Listed:
  • 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)

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.

Suggested Citation

  • Ian Yeoman & Carol Wheatley & Una McMahon-Beattie, 2017. "Trends in retail pricing: A consumer perspective," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 16(2), pages 174-200, April.
    • Handle: RePEc:pal:jorapm:v:16:y:2017:i:2:d:10.1057_rpm.2016.35
    DOI: 10.1057/rpm.2016.35
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    References listed on IDEAS

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    Cited by:

    1. Ian Yeoman & Una McMahon-Beattie, 2018. "The future of luxury: mega drivers, new faces and scenarios," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 17(4), pages 204-217, August.

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