Stores are learning what you’re willing to pay

Author: Lindsey Sablan
Published: Updated:

FORT MYERS, Fla. – As you point, click and purchase, or even if you just surf social media, you may be letting marketers know more than you bargained for.  We found some online companies are using data to determine what you’re willing to pay.

As online retail sales soar, experts say the amount of consumer data those retailers are collecting, is taking off. They look at your previous purchases, web browsing history and even social media activity. That information could affect what you pay for a particular item.

“Everyone wants to maximize the profit potential and price sensitivities are going to vary between individuals, but having access to all this data will really help to determine what sort of discount, if any, that individual will receive,” said Mark Johnson with Loyalty 360.

The information helps companies differentiate between customers who will pay full price and those who will only shop, if they have a coupon. So, are there times when being a loyal customer might not lead to the lowest prices?

Johnson with Loyalty 360, says yes.

“They know that they may not have to offer you that discount, so why should they?” he explained.

If you don’t want to pay full price, experts suggest:

–Always look for retailer promo codes. Using them will send the message you value deals.
–Keep items in your online shopping cart. Sometimes retailers will send you a discount to complete the purchase.
–Hit the “Contact Us” page and just ask.

Right now, the number of companies who can get all that information is limited. But Johnson says as data becomes less expensive, the unique pricing structure for individual customers will become more common.

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