June 26, 2018
A good majority of shoppers, 65 percent, are embracing dynamic pricing in the retail store, especially if it saves money and reduces waste, according to a new report from Displaydata and Planet Retail RNG.
Dynamic pricing is when retailers change a product cost during the day. Yet the report noted 25 percent of retailers aren't convinced shoppers do embrace such marketing.
The study, Analogue to Automated: Retail in the Connected Age, also found the right price has the greatest influence on buying decisions at the shelf edge, for 80 percent of those polled. While accurate pricing is the top reason why consumers say they would return to a physical store, less than half (43 percent) trust that the price on display will be the same at checkout.
The report surveyed 5,000 consumers and 1,000 retailers.
