What about Purchasing Power Parity pricing (aka Localized pricing)?

I’m skeptical whether people might remember or know this economic term purchasing power parity (PPP). But anyhow, this term is trending among creators nowadays.

What is PPP?

According to Wikipedia: Purchasing power parity (PPP) is the measurement of prices in different countries that uses the prices of specific goods to compare the absolute purchasing power of the countries’ currencies and, to some extent, their people’s living standards.

So why is PPP getting popular among creators?

If you are someone who sells digital products online and does business globally, you might have noticed that the majority of your customers are from the US or some developed countries. Because the product is only affordable to people from those Tier 1 countries.
So what could be the reason for not getting enough sales from other Tier 3 countries like India, with 749 million internet users across the country? And this is the same situation with other developing countries as well.
It is not logically correct to sell the product in emerging markets and developed counties at the same price. The average salary in the US is $4,300, and in India, it is $500. So the only solution for this problem is to implement purchasing power parity or geographical pricing for your products; So that people from India or other countries can also buy the product at discounted prices depending on the location where they live.

Various creator forums and communities are too much resonating about PPP pricing and its immense potential for increasing their conversion rates.
I talked to a few creators who’ve already implemented purchasing power parity pricing. On an average, enabling PPP pricing increases the revenue of digital products by 20% - 50%

How to implement purchasing power parity pricing for your product?

If you want to implement it yourself, all the required information is available on Wikipedia, along with the way to calculate PPP.
if you like, you can use open-source tools or Paritydeals (Provides Public API, VPN Security, Banners etc.)

Is PPP pricing only for the product industry? How about the service industry???

I’m sure that localized pricing (PPP pricing) works well for the product industry. But what will be the impact on the service industry? Will it be helpful for them too? I don’t think it’s fair to charge the same rate for clients from the US and India while operating the organization from India. May be we can set the base price depending on the country (Tier 3 country) which it gets operated from and can increase the rate to clients from Tier 2 or Tier 3 countries considering the PPP factor, and I don’t have an answer for how to set the price for the countries with lower income than the country which it gets operated.
Not sure. It may be a real problem yet to be explored.