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The History of Pricing

360 pi presents THE HISTORY OF PRICING from 1200 BC - 2013 With the continued prevalence of showrooming and comparison shopping, it seems like pricing in retail is constantly shifting and changing. But how did we get here? What were the events that lead up to the current situation? THIS INFOGRAPHIC GIVES YOU A BRIEF OVERVIEW OF THE MAJOR EVENTS THAT HAVE SHAPED PRICING TODAY Earliest record of the use 1200 BC of currency and prices Earliest known for a roman soldier 72-125 (AD written shopping list The first shopping mall, The Royal Exchange, opens in 1568 the UK. A.T. Stewart establishes the first one-price system, establishing fixed prices for all of his goods and paving the way for the price tag 1846 did yeu hno? Before the price tag, most buying was done by haggling 1861 John Wanamaker introduces THE PRICE TAG in Philadelphia, solidifying standardized pricing as we know it First mail order catalog 1872 First working cash register 1884 comes to use THE is invented 1895 COUPON Late 1800s PSYCHOLOGICAL PRICING, SUCH AS PRICES ENDING IN .99, BECOMES POPULAR 1936 The shopping cart is invented The first concept is patented 1952 BAR CODE 1962 Wal-mart Opens Barclaycard ,the first UK credit card is 1966 made available Early bar-code scanners become available 1973 12345 67890 The UPC is invented o 1234> First IBM 3653 computerized cash registers introduced 1976 hello did you knou ? Michael Aldrich invented the technology to enable online shopping Online transaction processing technology orld is invented 1979 The *80s This period saw the tremendous expansion of discounters such as Wal-Mart, Kmart, plus other national chains like Sears and J.C. Penney. BIG BOX AND CATEGORY KILLERS NEWS In an experiment done by the local Social Services The first purchase online is made to buy groceries 1984 Department, Jane Snowball, 72 orders groceries from Tesco using a modified TV connected to a phone line 1991 The Internet is commercialized First online book store, Book Stacks Unlimited, is launched 1992 ebay First online transaction occurs: the purchase of a mushroom 1994 and pepperoni pizza, with extra cheese. Amazon (then called Cadabra) and eBay launch 1995 First Comparison Shopping Engine becomes available: Price Transparency is born mCommerce is born when Coca Cola in s Finland accepts SMS as payment 1997 Thank you Price Intelligence is born 1999 did gou hnou? Cyber Monday is a marketing term for the Monday after Black Friday and was created by marketing companies to encourage people to shop online 2001 Amazon launches mobile service The term "Cyber Monday" is coined 2005 Paypal Mobile launches, allowing users to make payments by SMS 2006 360 oi starts development of its price extraction technology 2008 Digital price tags are released 2009 Live price extraction is launched, allowing for major improvements in pricing intelligence by companies such as 360i Retailers and smart phones start using QR code technology 2010 The rise of smart phone usage results in the popularization of mobile-bar code scanning to compare prices 360 pi launches 360price, a price intelligence solution for retailers 2011 360 pi launches two new product and price intelligence solutions: 360comparables and 360assortment 2012 The term "Show-rooming" is coined and retailers start to notice the practice during the holiday season Omnichannel retailing continues to gain popularity 2013 360 pi expands solution offerings to include 360recommendations as well as 360mobile, a product that allows retailers to access valuable price data in-store Today AS OF 2013, 67% OF RETAILERS HAVE EITHER DEPLOYED PRICE INTELLIGENCE OR ARE IN THE PROCESS OF DOING SO. ARE YOU READY FOR THE RETAIL PRICING FUTURE? BROUGHT TO YOU BY 360 pi To discover the pricing toals of the future, visit References for timeline: http://inventors htm http://inventors. htm http://en wikipedia org/wiki/John Wanamaker http://www.quora com/When-during the-industrial-Revolution did-fixed-price tags-first-appear http://en shopping http://enwikipedia org/wiki/ShoppingiShopping in ancient societies http://www.linkedincom/today/post/article/20130607115409-12921524-how-did-we-get-here a-short-history-of-retai l Papers/History-of-US-Retailing.paf http://www.shopperdoodledoo.couk/research/retail-origins

The History of Pricing

shared by epod on Oct 03
Have you ever wondered when the price tag was first invented? Or when the first online transaction was made? Well this infographic will tell you that and so much more, including how price intelligence...




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