Price sensitivity refers to consumers’ reaction to changes in the price of a product or service. It measures how much customers are influenced by price changes when making their purchasing decisions.

High price sensitivity means that consumers are very attentive to prices and are more likely to switch brands or stores if prices increase. On the other hand, low price sensitivity indicates that consumers are less responsive to price fluctuations and are more loyal to a brand or store, regardless of price changes.

Editeur de logiciels de Pricing et Supply chain
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