Arie Shpanya says, “Dynamic pricing has certainly been gaining traction in the online retail space. Popular in industries like hospitality and sports entertainment, dynamic pricing has led to the retail price tag’s obsolescence in those industries. Why? Because it is a symbol of static pricing, a tactic that holds many retailers back from success in the ecommerce landscape.

Retailers are no longer inhibited by physical price tags that require time and employees to manually change. That’s why dynamic pricing is a growing practice in online retail. Dynamic pricing is a pricing strategy that gives businesses the power to change their products’ prices in accordance with changes in the market and competitor prices.

Have you ever checked on the same flight twice in the same week and seen that the price had increased the second time? That’s dynamic pricing hard at work. However, dynamic pricing in retail does not hold the same frustration for consumers. It has led to an increase in competition online, which ultimately benefits online shoppers“.

How to Implement Dynamic Pricing without Sacrificing Margins or Customers

HubSpot

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