The one supposed downside of online shopping is seen to be the inability for pushy customers to bargain. However, this myth has been proven wrong in a recent book titled 43 Ways to pay less for Practically Anything. The book mentions that during online shopping, one needs to bargain cleverly. Admittedly, online shopping discounts are generated using chatbots which are using an algorithm to come up with pricing benefits. Such pricing is used as a digital marketing tool, as customers are enticed by the discounts available. But this can be played around with. Typically, repeat customers get better value, as bots use the enormous data warehousing done to deliver insights on customer segments. Similarly, those customers who are close to buying, but drop out at the last moment, are seen as potential buyers, who just need a small nudge, notably pricing. This strategy works well with most online retailers, but can backfire with service providers such as Udemy who want to be seen as a niche player that values the timing of any discount on offer. There even exist certain questions that are known to test out chatbots’ resistance.

Source:https://hbx.hbs.edu/blog/post/how-to-negotiate-with-a-chatbot-and-win?cid=sm-tw-sf84735795&sf84735795=1

Uploaded Date:27 February 2018