The conventional wisdom in retail is that pricing is almost everything: Lob a discount, and the consumers will come. But recent research indicates that actually, for a loyal customer, price doesn’t have a lot of power. In fact, as the trend continues for businesses and SMBs, price is important – but more important is what one gets in terms of services. But there are places where price pays, particularly segments like healthcare, where customers can feel like they shell out a lot but get very little in return.
Data:
£8 million: The amount SMB banking and services platform Tide snapped up in its last funding round.
$1,800: Average American healthcare deductible cost.
20 percent: Share of healthcare expenses consumers pay out of pocket aside from their deductible.
3 – 4 percent: The amount more consumers will consistently pay for their favored brand.
350: The number of beverage brands under the Coca-Cola umbrella.
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