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Kai, are retailers, are they nervous about raising prices? oh, yes. that is a big issue. everybody who sells is very, very nervous about prices. indeed, i ran brain scan studies where i could show that the consumer willingness to pay is in some cases, significantly higher than the value perception of the person who sells. that means there is a strong hurdle and and lots of pain on the seller side, which is completely unnecessary. kai markus mueller, an absolute pleasure having you on the show. thanks so much for your time and i ll talk to you soon. thank you for having me. well, you know, in the end, it s the price in the shops that customers really care about. so what kind of pressure are they under to keep the costs low and how do ....
Opposed to a cheap painkiller. and, kai, what do you think about companies using shrinkflation? you know, keeping prices the same, but but making the product smaller? i mean, is that effective? if shrinkflation is effective depends very much on the perceptual threshold. so for example, in weight, if i compare two weights, i need at least two grams of difference for 100 by 100 grams to perceive that difference at all. now, over time, that becomes more so i maybe forget that last week, you know, that carton of milk or that little piece of tea or so was slightly heavier than this week. so companies understand what the perceptual threshold for the different units is, they have good chances to make shrinkflation successful. ....
Lasker haque can tell us where the markets think prices of raw materials are heading. kai markus mueller, who s the neuroscientist who gives us the psychology behind the way shops set their prices. and christel delberghe, she s the boss of eurocommerce, which represents the big retailers in some 27 countries across europe. also on the show, from the coffee field to your daily mug ofjoe, i ve got antonio baravalle, the big boss of the coffee giant lavazza, to talk to us about pricing from bean to cup. wherever you rejoining me from around the world, once again, a big hello and a very warm ....
Shrinkflation successful. kai, are retailers, are they nervous about raising prices? oh, yes. that is a big issue. everybody who sells is very, very nervous about prices. indeed, i ran brain scan studies where i could show that the consumer willingness to pay is in some cases, significantly higher than the value perception of the person who sells. that means there is a strong hurdle and and lots of pain on the seller side, which is completely unnecessary. kai markus mueller, an absolute pleasure having you on the show. thanks so much for your time and i ll talk to you soon. thank you for having me. well, you know, in the end, it s the price in the shops that customers really care about. so what kind of pressure are they under to keep the costs low and how do they negotiate with their suppliers? well, to find out, i ve been ....