UBC study on how to price goods serves up lessons for retail, hospitality

By Glen Korstrom
Sales of premium products spurred by low price for a base product, research suggests

It is always better for the seller to offer a low base price for an item, and give shoppers the option to upgrade for a specified fee, than it is to offer a higher base price that includes value-added extras. That’s the conclusion of University of British Columbia (UBC) researchers who analyzed a pricing strategy that could help retailers and restaurant owners boost sales, and who published findings in the October edition of Journal of Marketing Research.…

Source:: UBC study on how to price goods serves up lessons for retail, hospitality

• Whistler News

October 2, 2019

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