Map the
Trend!
Future
SYMPATHETIC PRICING
Get ready for a wave of imaginative discounts that relieve lifestyle pain points, offer a helping hand in difficult times, or support a shared value.
Basic needs:
Demand for more HUMAN brands,
Being more human,
Sustainability
Social Responsibility,
Company Transparency
Owining a higher purpose
Drivers of Change:
Brands are constantly telling consumers that they care. Most consumers don't believe them. In this growing world influenced by Ecommerce flexible pricing has become the norm. Consumers and companies across the world are always competing about who has the lowest fares. Who can offer the best discounts, which brands care the most about the average Joe's spending capabilities.
The biggest trigger driving this trend
is:
Message saturation:
Over the many years of company initiatives and campaigns; consumers have began to tune out the 'white noise' of all these promises and are keen on seeing brands care for them. If brands do actually care about their consumers ..shouldn't their pricing reflect this?
Innovation Potential :
Sypathetic Pricing has three types of inivative categories and they are:
Pain Killer Pricing:
Discounts that target lifestyle pain points.
Compasionate Pricing:
Discounts that offer a helping hand at a difficult time.
Purposeful Pricing:
Discounts in support of a shared value or belief.
Emerging Consumer Expectations:
The online world has primed consumers to EXPECT flexible pricing. And a host of agile startups are both willing and able to deliver. This stems from the trend New World, New Expectations, the new generation of startups lack legacy and compensate for this with by rolling out more affordable prices sooner than long standing companies.
It is a small transition filling the gap between consumers needing more flexible pricing, to the embracing of Sympathetic pricing.