Individual Pricing is pricing based on data that includes consumer status and behaviour and other context factors, such as locations, time and weather. For example, current income, shopping habits or current events are used to offer customers personalised discount coupons for suitable products in real time. Promotion campaigns will temporarily do away with money as a currency and accept a gesture of love or washing your own plate in restaurants as payment. Online news formats are already seeing an increase in “Pay per Tweet” or other share offers. Fixed list prices could soon belong to the past to be replaced by dynamic price models.
MORE TRENDS AND BEST PRACTICE CASES?
You can find worldwide best practice examples on this macro-trend in our online tool, the Trendexplorer:
- Access to the latest and most relevant innovations worldwide
- Finding useful information with targeted searches
- Creating impressive presentations in PowerPoint or PDF
- Collaboratively working on trend researches
- Staying up-to-date with individual trend alerts