Implications: Early in the story, this NY Times story righteously focuses on the new sense of control that consumers have over the way business is done. (Unfortunately, the piece quickly devolves into speculation by pundits about whether the new pricing strategies of various stores will work. Pundits won’t decide. Consumers will.) In an age where competitive shopping can be done before arriving at Store #1, the game has changed.
Of course, there are other ways to attract consumers, beyond price. (Quality, selection, service, to name a few.) But the essence of this story is about control: What customers want and whether you’re delivering it.
Have you sat down for a heart-to-heart with your best customers lately?