Skip to content

Business Quote by Nir Eyal

“a 2003 study, which demonstrated that consumers’ preference for an online retailer increases when they are offered competitive price information.[xxxvi] The technique has also been used by Progressive, the car insurance company, to drive over $15 billion of annual insurance sales, up from just…” quote by Nir Eyal
Download Open image
““a 2003 study, which demonstrated that consumers’ preference for an online retailer increases when they are offered competitive price information.[xxxvi] The technique has also been used by Progressive, the car insurance company, to drive over $15 billion of annual insurance sales, up from just $3.4 billion before the tactic was implemented.””

Nir Eyal

About This Quote

Source Research Paper: Consumer Preference Study, 2003

Consumers favor online retailers offering competitive price info, boosting sales dramatically.

In simple terms: Price transparency drives sales.

Key Takeaway

Offer clear price comparisons.

Themes

consumer behavior pricing trust

Mood

informative strategic

Type

analytical educational

When to use this quote

  • e‑commerce
  • retail
  • marketing
  • sales growth

Key Concepts

behavioral economics price strategy

Questions to Reflect On

  • What balance between price and brand value?
  • How to sustain loyalty beyond price?
A Different Perspective

Over‑reliance on price can erode brand perception.

2.6 out of 5 (6 ratings)

More by Nir Eyal

Explore all 262 Nir Eyal quotes

More Business quotes

Browse all 38,995 Business quotes