Wednesday, 9 February 2011

Elasticity of distance and discounting

The fact that people will shop around and will make a degree of effort if a potential saving is perceived to be significant is hardly surprising. What is interesting though, is this attempt by JiWire (found via Techcrunch) to start to quantify the model  particularly in this era of Groupon type social buying models, Facebook Deals / Foursquare offers and smartphone based price comparison services. Location based services are here to stay and it will be interesting to see how they are developed and exploited.

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