Cortana Price Comparisions

Would have thought that Amazon would have tried this as well.  Ideal idea for an assistant.  I note that it works only on Windows 10,  on the not commonly used Edge Browser,  not on common mobile devices at this time.   So quite a few restrictions.

Cortana can now do price comparisons when you’re shopping online

Posted by Sarah Perez (@sarahintampa)

Microsoft’s digital assistant Cortana will now be able to save you money when you’re shopping online. The company announced today that it will begin a pilot test of a new Cortana feature that will pop up the best price and availability of similar products, when you’re shopping the websites of over a dozen top retailers in the U.S., including Amazon, Walmart, eBay, Best Buy, Home Depot, and others.

The savings feature will only work when you’re shopping online using Microsoft’s Edge web browser, and have the Windows 10 Creators Update installed. ...."

JC Penney and Pricing

Economist MJ Perry on the complexity and psychology of pricing.  Referencing an NYT article: " ... how the “everyday low pricing” model at J.C. Penney’s seems to have backfired. One explanation is that many consumers don’t necessarily want “fair prices” or “everyday low prices,” they instead want the thrill of getting a great deal when something is on sale, to feel that rush of “consumer surplus” running through their bodies!  ... "

On the Consumer Power of Price Checking

Herb Sorensen in Retailwire writes about mobile price checking. Some further thoughts of my own:

I saw a number of price checking devices installed at a local retailer. You just hold up the package to the device installed on a pole and it reads the barcode and shows you the price. Quite convenient for those untagged items. Another approach is to use ESLs or electronic shelf labels that update prices. Still uncommon. Both of these methods are in control of the retailer and require some awareness and 'training' of shoppers. The ultimate approach is to have the shopper be able to read UPC codes directly with their own devices, usually a camera-enabled smartphone. I have written about this a number of times here, and we experimented with all these methods.

In the mobile case, of course, it is the shopper that controls the information. I have tested this in the store and am starting to see others do it. Now the shopper can see more than just the local price, but competitive prices, promotions and other 'extended' information. More control to the shopper. The mobile method today requires a smart phone, which not all consumers have. Also the current packages that do this are still not completely reliable. Plus, this does not work on private label UPCs and repackaged products, common at retailers like Costco, where that exact same UPC cannot be found at other retailers.