Knowledge@wharton

Some shoppers just can’t help themselves and buy mostly on impulse without regard to price. Others are die-hard bargain hunters who only open their wallets for a discount. Then there are the strategic consumers who are willing to buy full-price sometimes but at other times they will wait for a bargain. According to new research by Gérard P. Cachon professor of operations and information management at Wharton and doctoral student Robert Swinney it’s these customers that retailers need to focus on in order to reap the full benefits of lean retail inventory management and variable pricing. See acast.com/privacy for privacy and opt-out information.