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 $3.4 billion before the tactic was implemented.””
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.
Offer clear price comparisons.
Themes
Mood
Type
When to use this quote
- e‑commerce
- retail
- marketing
- sales growth
Key Concepts
Questions to Reflect On
- What balance between price and brand value?
- How to sustain loyalty beyond price?
Over‑reliance on price can erode brand perception.