Retail Price Comparison * Use U.S. dollars and stores located in the United States To demonstrate the wide variation in pricing of an identical item, visit three different stores online and compare prices on similar items. Please do not just get on Amazon and compare prices there for an item. Actually visit different independent store websites. It might be really interesting to visit a local store's website and a national store's website, comparing pricing for the same item. 1. Select a category of store. Some suggestions are: Grocery: large chain store, local chain store, convenience store Health and beauty aids: grocery store, drugstore, discount store Over-the-counter drugs: chain drugstore, local drugstore, discount store Clothing: specialty store, department store, discount store 2. Select several items to compare in your category. For example, in the grocery category, you may want to compare a type of cereal, a canned soup, and a snack item. If possible, you might check prices at a local store location to see if there is a difference online. 3. After the investigation, tell us what factors you believe lead to the variations in prices. In addition to other market influences, think about skimming, penetration, and competition, etc. Is it worthwhile for consumers to compare prices when they shop?
Retail Price Comparison
* Use U.S. dollars and stores located in the United States
To demonstrate the wide variation in pricing of an identical item, visit three different stores online and compare prices on similar items. Please do not just get on Amazon and compare prices there for an item. Actually visit different independent store websites. It might be really interesting to visit a local store's website and a national store's website, comparing pricing for the same item.
1. Select a category of store. Some suggestions are:
-
- Grocery: large chain store, local chain store, convenience store
-
- Health and beauty aids: grocery store, drugstore, discount store
-
- Over-the-counter drugs: chain drugstore, local drugstore, discount store
-
- Clothing: specialty store, department store, discount store
2. Select several items to compare in your category.
For example, in the grocery category, you may want to compare a type of cereal, a canned soup, and a snack item. If possible, you might check prices at a local store location to see if there is a difference online.
3. After the investigation, tell us what factors you believe lead to the variations in prices. In addition to other market influences, think about skimming, penetration, and competition, etc. Is it worthwhile for consumers to compare prices when they shop?
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