Josh Zumbrun
speaker
325 appearances
5 recordings
1 series
first heard Dec 2018
last heard Oct 2023
Josh Zumbrun’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Consumers Hate Fees, But Are Willing to Pay Them Anyway · 27 Jun 2023
podcast
What you see is what you pay.
The first ticket price you see is going to be what you get at the end.
So they thought we can really stand out and earn a lot of trust by not doing any hidden fees.
And so for a couple of years, they tried this and consumers in practice hated it.
Not only did they buy far less tickets, but they actually would buy not as good tickets too.
So what StubHub eventually found is that when you do the hidden fees, people go to the site and they see these initial prices.
They know these additional fees are coming.
But they still kind of get in their head like, oh, I could buy much better seats.
So they pick much better seats.
They go through the process.
They get the final price.
It's much higher than that initial price.
So they not only buy more tickets, but they buy better tickets when you use the hidden fees.
And StubHub's business got so hurt by the transparency.
Their sales were down about 20%.
It was a huge hit.
And they had to abandon their effort to be transparent because they were just getting clobbered by consumers.
One of the most important takeaways is that it would be helpful if consumers were a little bit more willing to start the process over when they got to the end and they ended up with something that's much more expensive.
One of the things that happens is people complete their shopping process and it's much more expensive than they thought.
And they just say, it's probably going to be like that everywhere.
Showing 101–120 of 325 · page 6 of 17
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