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Corporations Learned The Maximum Amount They Can Charge For a Product

Odd Lots

INSIGHT

Return to Haggling

  • Personalized pricing isolates consumers and obscures price differences, reducing the perception of unfairness.
  • This trend marks a shift away from the 20th-century norm of fixed prices toward a more dynamic pricing model.
  • New technologies enable aggressive price tailoring, reminiscent of the haggling practices of old bazaars.
  • This "dystopian" reality contrasts with the Quaker-influenced fixed-price model pioneered by retailers like John Wanamaker.
  • Wanamaker's innovations, including price tags and return policies, streamlined commerce and promoted price transparency.
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