It's a classic question when a lovely new gadget comes out on the market: when is the right time to buy? Buy the product early, and you get bragging rights and more time enjoying its features, but you almost certainly pay more than if you'd waited.
Predicting prices for consumer electronics is more complicated. Consumer electronics are meant to be kept and enjoyed. People don't want to wait so long to buy a product that they're stuck with an outdated model, no matter how cheap it is. "We believe there's only a limited time people will wait".
To formulate its insights, Decide factors in predictions of new models or discontinued service. It also might direct consumers to newer models instead of discounted old ones. In some cases, new models actually cost less than predecessors due to high supply.
More utilitarian products such as printers had fairly stable prices; flashier products such as digital cameras could vary wildly, leaving consumers playing tricky guessing games.
The long-term impact of price prediction could be huge. It's not just a question of when to buy a flashy new toy. As companies become better at predicting prices and features for all types of devices, buying at the right time could help consumers own better-quality products across the board.
Predicting prices for consumer electronics is more complicated. Consumer electronics are meant to be kept and enjoyed. People don't want to wait so long to buy a product that they're stuck with an outdated model, no matter how cheap it is. "We believe there's only a limited time people will wait".
To formulate its insights, Decide factors in predictions of new models or discontinued service. It also might direct consumers to newer models instead of discounted old ones. In some cases, new models actually cost less than predecessors due to high supply.
More utilitarian products such as printers had fairly stable prices; flashier products such as digital cameras could vary wildly, leaving consumers playing tricky guessing games.
The long-term impact of price prediction could be huge. It's not just a question of when to buy a flashy new toy. As companies become better at predicting prices and features for all types of devices, buying at the right time could help consumers own better-quality products across the board.
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