New Year's fitness resolutions are already hard enough to keep, but it's even more difficult when the classes you want to go to are always booked up. Mindbody, a cloud-based provider of business management software focused on health and wellness, introduced a new dynamic pricing strategy to help fitness studios get consumers the classes they want. Rick Stollmeyer, Co-Founder, Chairman, and CEO of Mindbody, joined us to discuss the new feature.
Thoughts of dynamic pricing could cause consumers to become concerned about surge pricing similar to the strategy used by Uber. Stollmeyer shares why consumers shouldn’t be afraid, saying it works both ways. Dynamic pricing can go low enough to attract price sensitive users, but high enough to provide decent growth margins to build a sustainable business.
Stollmeyer also chats about the company's pilot program with Google and breaks down what they learned from the partnership. He says it was a success and Google expanded integration nationwide. The key result was bringing people in to the platform who weren’t already engaged in the wellness community. Stollmeyer sees VR and AR as an opportunity to expand even more.
The Biden administration says it will impose inflation penalties on dozens of drug makers to lower costs for those on Medicare.
Two of the top low-cost online retailers are going head to head in a new legal battle. Cheddar News' Michelle Castillo breaks the lawsuit down.
The number of Americans filing for jobless benefits fell last week as the labor market continues to thrive despite high interest rates and elevated costs.
The earliest version of Disney's Mickey Mouse will become public domain on Jan. 1, 2024.
The toy magic oven called the Cookeez Makery is one of the hottest toys for kids this holiday season.
In the UK, IKEA is looking to give away some meatballs, and not just regular-size meatballs.
Dwayne 'The Rock' Johnson is set to star in a movie playing MMA and UFC legend, Mark Care, while Kevin Hart will headline a boxing project over on Peacock.
Coca-Cola is recalling drinks sold in three southern states due to possible "foreign materials" inside cans.
Stocks jumped after the Dow Jones closed at a record high while fresh retail sales data showed positive consumer spending ahead of the holidays.
The Food and Drug Administration is asking Congress for new powers, including the ability to mandate drug recalls and require eyedrop makers to undergo inspections before shipping products to the U.S.
Load More