Strategische Möglichkeiten einer dynamischen Preissetzung im Lebensmitteleinzelhandel

2018 ◽  
Vol 59 (2) ◽  
pp. 21-25
Author(s):  
Annett Wolf
Keyword(s):  
Dynamic Pricing ◽  
Search Behavior ◽  
Expert Survey ◽  
Professional Management ◽  
Food Retailers ◽  
Retail Food

Abstract Die Etablierung dynamischer Preise erfordert ein professionelles Management. Während die Praxis im deutschen Einzelhandel zumeist noch auf herkömmlichen Ansätzen wie z. B. der Cost-Plus-Methode verharrt, nutzt Amazon das Wissen über den Kunden und dessen Suchverhalten seit längerem erfolgreich für eine dynamische Preisgestaltung. Im folgenden Beitrag werden die Möglichkeiten des Dynamic Pricing konzeptionell aufgearbeitet und deren Übertragung auf den Lebensmitteleinzelhandel empirisch anhand einer Expertenbefragung überprüft. Establishing dynamic prices requires professional management. While Amazon has been using its knowledge of the customer and its search behavior for a dynamic pricing, the practice of pricing in the German retail remains mostly on conventional approaches. In the following article, the possibilities of dynamic pricing will be conceptually elaborated and their transfer to retail food retailers will be empirically examined by means of an expert survey. Keywords: preisoptimierung, online handel, expertentool, dynamic pricing, datenanalyse

scholarly journals Effective Pricing of Perishables for a More Sustainable Retail Food Market

2019 ◽  
Vol 11 (17) ◽  
pp. 4762
Author(s):  
Jaekwon Chung
Keyword(s):  
Dynamic Pricing ◽  
Food Industry ◽  
Consumer Demand ◽  
Optimal Pricing ◽  
Perishable Products ◽  
Expiration Date ◽  
Food Retailing ◽  
Food Retailers ◽  
Food Market ◽  
Retail Food

Developing effective ways to manage perishable foods is crucial for food retailers to survive in the highly competitive retail food industry. Due to the nature of perishability, it is necessary to find an effective selling strategy to reduce waste from unsold perishables. Prior studies have proposed using dynamic pricing to develop an optimal pricing structure that compensates the consumer for the loss of freshness as the expiration date approaches. However, these studies have not considered consumer demand that more consumers are likely to purchase units of perishable products with relatively more or fewer days before expiration. In addition, prior studies have not compared dynamic pricing to a “no discount” policy whereby a retailer only displays those perishables that have the fewest remaining days to expiration, keeping units with a longer time before expiration in a warehouse. The results of this study show the potential impacts of different pricing by considering these issues. This study provides new insights for retailers to manage perishable foods with small and large packages that improve the sustainability of food retailing.

Dynamic pricing of perishable food as a sustainable business model

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Michael Scholz ◽  
Roman-David Kulko
Keyword(s):  
Willingness To Pay ◽  
Food Waste ◽  
Dynamic Pricing ◽  
Pricing Strategy ◽  
Pricing Strategies ◽  
Sustainable Business ◽  
Content Type ◽  
Food Retailers ◽  
Static Pricing ◽  
The Impact

PurposeThe purpose of this paper is to (1) investigate the effect of freshness on consumers' willingness to pay, (2) derive static and dynamic pricing strategies and (3) compare the effect of these pricing strategies on a retailer's revenue and food waste. This investigation helps to reveal the potentials of dynamic pricing strategies for building more sustainable business models.Design/methodology/approachThe authors conduct an online experiment to measure consumers' willingness to pay for fresh and three-days’ old strawberries. The impact of freshness on willingness to pay is analysed using univariate tests and regression analysis. Pricing strategies are compared using a Monte Carlo simulation.FindingsThe results of this study show that freshness largely determines consumers' willingness to pay and price sensitivity. This renders dynamic pricing a promising strategy from an economic point of view. The results of the simulation study show that food waste can be reduced by up to 53.6% with a dynamic pricing instead of a static pricing strategy in the case that there are as many consumers as strawberry packages in the inventory. Revenue can be increased by up to 10% compared to a static pricing strategy based on fresh strawberries.Practical implicationsThis study suggests that food retailers can improve their revenue when switching from static to dynamic pricing. Furthermore, in most cases, food retailers can reduce food waste with a dynamic instead of a static-pricing strategy, which might help to improve their image through a more sustainable business model and attract additional consumers.Originality/valueThis study is the first to analyse the possibility of using food freshness to design a dynamic pricing strategy and to analyse the impact of such a pricing strategy on both, a retailer's revenue and a retailer's food waste.

scholarly journals The Retail Food Environment: Time for a Change

2020 ◽  
Vol 17 (23) ◽  
pp. 8846
Author(s):  
Alyssa Moran ◽  
Christina Roberto
Keyword(s):  
Food Environment ◽  
Food Choices ◽  
Retail Food Environment ◽  
Food Retailers ◽  
Retail Food

Food retailers, manufacturers, and distributors exert powerful influence on our food choices through decisions about stocking, pricing, marketing, and promotional practices [...]

A laboratory exploration for multi-period perishable food pricing

2015 ◽  
Vol 117 (9) ◽  
pp. 2214-2233 ◽  
Author(s):  
Xiaohuan Wang ◽  
Zhi-Ping Fan ◽  
Yiming Wang ◽  
Manning Li
Keyword(s):  
Laboratory Experiment ◽  
Dynamic Pricing ◽  
Nonparametric Test ◽  
Pricing Strategy ◽  
Price Fairness ◽  
Content Type ◽  
Fairness Perception ◽  
Food Retailers ◽  
Food Freshness

Purpose – The purpose of this paper is to put forward a multi-period dynamic pricing strategy for perishable food considering consumers’ price fairness perception. The impacts of the multi-period retail price, food freshness and inventory shortage risk on consumers’ heterogeneous willingness to pay (WTP) and their strategic purchasing behaviours are studied. Design/methodology/approach – The authors present a price optimization model for perishable food, and conduct a laboratory experiment to justify the theoretical model. The data collected are analysed by correlation analysis and nonparametric test. Findings – The results obtained reveal, first, food freshness and inventory shortage risk have effect on consumers’ heterogeneous WTP. Second, different retail prices lead to consumers’ strategically purchasing behaviours. Finally, consumers’ intertemporal price fairness perception and the food retailer’s long-term utility maximization can be achieved by developing multi-period dynamic pricing strategy. Practical implications – This study suggests the perishable food retailer to apply a step-by-step price markdown strategy. It aims at eliminating price unfairness perceptions caused by loss of freshness and high shortage risk of the perishable food in the subsequent selling periods within the shelf life. Some valuable managerial insights towards perishable pricing for food retailers are discussed. Originality/value – This study serves as the first step to utilize a laboratory experiment to dig out consumers’ intertemporal WTP towards perishable food. It also presents a novel way for describing consumers’ intertemporal price fairness perception by equalizing consumers’ average utilities considering consumer surplus, food freshness and shortage risk at different selling periods. The line of research on dynamic pricing concerning consumers’ price fairness perception is quite new in academic research, and has arisen due to its importance for food retailers of maximizing their long-term revenues and also of constructing mutual benefit and lasting connections with the consumers.

scholarly journals Comparing the accuracy of food outlet datasets in an urban environment

2017 ◽  
Vol 12 (1) ◽  
Author(s):  
Michelle S. Wong ◽  
Jennifer M. Peyton ◽  
Timothy M. Shields ◽  
Frank C. Curriero ◽  
Kimberly A. Gudzune
Keyword(s):  
Low Income ◽  
Food Environment ◽  
Food Systems ◽  
Ground Truth ◽  
Attractive Alternative ◽  
Ground Truth Data ◽  
Retail Food Environment ◽  
Food Retailers ◽  
Quick Service ◽  
Retail Food

Studies that investigate the relationship between the retail food environment and health outcomes often use geospatial datasets. Prior studies have identified challenges of using the most common data sources. Retail food environment datasets created through academic-government partnership present an alternative, but their validity (retail existence, type, location) has not been assessed yet. In our study, we used ground-truth data to compare the validity of two datasets, a 2015 commercial dataset (InfoUSA) and data collected from 2012 to 2014 through the Maryland Food Systems Mapping Project (MFSMP), an academic-government partnership, on the retail food environment in two low-income, inner city neighbourhoods in Baltimore City. We compared sensitivity and positive predictive value (PPV) of the commercial and academic-government partnership data to ground-truth data for two broad categories of unhealthy food retailers: small food retailers and quick-service restaurants. Ground-truth data was collected in 2015 and analysed in 2016. Compared to the ground-truth data, MFSMP and InfoUSA generally had similar sensitivity that was greater than 85%. MFSMP had higher PPV compared to InfoUSA for both small food retailers (MFSMP: 56.3% <em>vs</em> InfoUSA: 40.7%) and quick-service restaurants (MFSMP: 58.6% <em>vs</em> InfoUSA: 36.4%). We conclude that data from academic-government partnerships like MFSMP might be an attractive alternative option and improvement to relying only on commercial data. Other research institutes or cities might consider efforts to create and maintain such an environmental dataset. Even if these datasets cannot be updated on an annual basis, they are likely more accurate than commercial data.

Visual search behavior in catching baton twirlers

2007 ◽  
Author(s):  
Madoka Takahashi ◽  
Kazunobu Fukuhara ◽  
Motonobu Ishii
Keyword(s):  
Visual Search ◽  
Search Behavior
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