Do not be surprised if you learn that when you add a product to an e-shopping cart, you may be participating in a carefully designed social science experiment, you are looking for the lowest price for the product, and there is a robot that measures your behaviors to set the price for you.
That modern model of price negotiation is called "Nash Equilibrium," which has a beautiful mind, but how does John Nash's theory of setting product prices extend to websites?
Game theory by John Nash can be described as the mathematical study of the decision-making process in social situations, you take action, the seller takes action, and the agreed price will result from what you both do to get the deal done, but you are here to learn how to win in the e-shopping game.
1- Market anonymously
The value of the Netflix subscription is increasing in Denmark and Switzerland, despite the inaccessibility of many options such as Australia, America and Turkey, but demographic factors are one of the methods of the dynamic pricing strategy, which includes more than 5 thousand variables.
Because of this complex technology, merchants - even retailers - have become aware of what you can pay, and they may offer you a higher price compared to someone else who pays less. To avoid this, you must delete your purchase history from the sites, and log out of your electronic accounts such as "Facebook", and " Booking, "Google" and delete cookies, or browse anonymously, and choose from the blocking program a less advanced country as your home when purchasing services.
2- Resist the boredom of the morning and Sunday
Shop on the right day even if it seems tempting to spend business hours browsing retailers' products, as online purchases reach their peak during business hours on the first day of the week due to boredom of employees.
And retailers by extension take advantage of this boredom, raising prices in the morning and lowering them early in the evening, so do not go overboard and rush, and wait for special offers on Wednesdays, Thursdays and Fridays.
Shop on the right day even if you are driven by boredom at the beginning of the week (networking sites)
3- Hold on .. someone is watching you
In mid-2017, Amazon alone had 59 economists working on its online shopping site, and they were responsible for tracking the huge amount of data that consumers leave as soon as they add a product to their cart, setting discounts and their dates, raising or lowering prices, and they also know how much money. Provided by shoppers to search for the best prices.
This means that the real price of the product is not with the first seller that appears to you, but after 20 minutes of searching for the optimal seller, and the sellers ’order varies according to your transaction history, and you must use the price comparison feature, and check the ratings of the optimal seller and the country of origin.
Do not trust a site to be judged by the prices of the products you know.
Using a tool such as Google Shopping is a great way to compare using the device code. You can also install PriceBlink available on Chrome and Mozilla to find the same product prices automatically from many merchants and organize them in Smart planner, and even notify you if there are any coupons available.
5- Calculate luxuries
Boomerang monitored price shifts for Samsung TV on Amazon during the six months prior to the White Friday shows.
Then, on the same White Friday, Amazon lowered the price of TV from $ 350 to $ 250, sharply reducing the number of competitors.
Boomerang robots also note that the site has raised the price of some HDMI cables needed to connect a TV by about 60%.
Consider shopping a few days before you want to buy (social media)
6- Be specific
4 researchers in Catalonia tried to shop with fake computers that simulate the browsing patterns of wealthy customers and those interested in big brands, and when the researchers started shopping, they did not show them different prices for the same goods, but offered them different goods.
The average price of the headphones proposed for wealthy personalities was 4 times the price proposed for ordinary people, and on the ground computers are sold at different prices within one country, depending on the governorate and state.
7- Make a time plan
Consider shopping a few days before you want to buy, log into shopping sites, add your future purchases to your online cart, then simply close your browser, and check your email for the next few days.
When you add a product to your wishlist or online shopping cart, you are clearly interested, and you will likely receive an email containing a promotional code or coupon to encourage you to come back and continue.
But be aware, this step is not optimal in the already discount seasons and prices.
8- Do not shop during the seasons
This is a custom that we acquired by practicing when preparing for the holy month of Ramadan and the holidays, by purchasing home supplies before the purchase season, which is followed by a significant increase in the prices of the occasion’s supplies.
We also notice this in the prices of air-conditioning during the summer, which is an old ploy that merchants follow before the advent of the Internet, but today you may notice a decrease in the price of hazelnuts on a site, with the rise of the rest of the supplies on the site itself, and you are forced to request it to take advantage of the free shipping.