Tag: marketing

News

Amazon Now Sells Cars: A New Era of Growth or a Road Full of Potholes?

Amazon sells millions of different products: clothes, food, lawnmowers, toilets, and even houses. Not much is missing, especially now that we’re almost able to buy cars on Amazon. Starting in 2024, Amazon plans to revolutionize car buying by enabling customers to purchase Hyundai vehicles online directly from its platform. Amazon’s latest move, in partnership with Hyundai, may significantly impact the auto industry. The news was strong enough to impact the stock prices of companies like Carvana and Autotrader in mid-November. This move is a natural progression for Amazon and its digital showrooms, presenting an unprecedented offer to consumers.

News

Halloween’s Sweet Treat: Record-Breaking Consumer Spending

It is estimated that consumers will spend $12.2 billion on this year’s spooky season. This would be the highest amount ever recorded, and a massive growth of 8% compared to last year. It is interesting to notice that the increase over the last 10 years is similar to inflation between 2013 and 2023 (35% vs 32%), although most of the inflation happened in the last three years. Even accounting for inflation, consumers spent less in the last three years, but Halloween is still a very popular holiday. Customers are shopping weeks ahead. According to Phil Rist, Prosper Executive Vice President of Strategy  “Younger consumers are eager to begin their Halloween shopping, with more than half of those ages 25-44 planning to shop before or during September.”

Business strategy, Marketing

Good-Better-Best Pricing Strategies

Good-Better-Best Pricing Strategies

As the name implies, a G-B-B strategy aims to offer the customer multiple tiers of features for the same product or service at various price points. For example, if you book a flight, you can get the basic economy seat with five inches of legroom and guaranteed back pain after landing. Or, for an extra hundred dollars, you can get economy-premium seats with more legroom and a slightly better seat. Or if you’re feeling fancy and have money to spend, you can fly business class and have the best seats.