Tag: Personalized Pricing

How Retailers Use Personalized Prices to Test What You’re Willing to Pay | Harvard Business Review

How Retailers Use Personalized Prices to Test What You’re Willing to Pay | Harvard Business Review

Have you ever looked up flights or hotels on an app on your phone, only to open your laptop and see different prices? That’s exactly what happened to me recently. I was using Orbitz’s iPhone app to research a vacation package to New York City. Settling on a hotel, I accessed Orbitz’s website on my laptop to book […]

Dubai hotels should collaborate in establishing minimum price parametres | HotelierMiddleEast.com

Dubai hotels should collaborate in establishing minimum price parametres | HotelierMiddleEast.com

Hotels in Dubai should seriously collaborate in establishing minimum price parametres across the sector while adapting flexible pricing strategies to continue providing consumers with freedom of choice, a panel of hoteliers revealed during a discussion on “War Games – Fighting the Rate War” at the Hotelier Middle East Great GM Debate 2017. Moderating the panel […]

Improved strategic understanding needed for hotel pricing | HotelierMiddleEast.com

Improved strategic understanding needed for hotel pricing | HotelierMiddleEast.com

Allan highlighted the need for hotels and hotel companies to align with an improved strategic understanding of which markets and which segments to target. “The bigger issue is that hotels and hotel companies need to have a better understanding of what particular market segments to target. By not setting leisure rates or corporate rates correctly, […]

AI could become your personal shopper | VentureBeat

AI could become your personal shopper | VentureBeat

7. Setting the right price Big data tools like Incompetitor help retailers maintain a competitive pricing strategy by combining AI and machine learning. Retailers integrate this API into a brand’s data so a rule-based engine can optimize prices based on real-time external factors, like inventory, competitors’ out-of-stock situations, and discounts. This integration allows retailers to optimize […]

Personalised pricing online retailers’ newest ploy | The Austrailian

Personalised pricing online retailers’ newest ploy | The Austrailian

If the key to getting the best price is not showing the seller how keen you are, not revealing how much you can really afford and not caring if you seem like a tightwad, you’ve just lost the advantage. Online businesses don’t want you to know it, but they are using artificial intelligence to design […]

Kroger’s analytics and personalized pricing keep it a step ahead of its competitors | Food Dive

Kroger’s analytics and personalized pricing keep it a step ahead of its competitors | Food Dive

Coupled with price-cutting initiatives, Kroger’s focus on personalized pricing through e-coupons and mobile app offers — Best Customer Bonuses and Free Friday Downloads among others — helps keep it price-competitive against Walmart and a host of value retailers like dollar stores as well as Aldi and Lidl. The personalized deals also strongly resonate with shoppers […]

Elegant Hotels Group reviews pricing strategy after fall in pound | The Times

Elegant Hotels Group reviews pricing strategy after fall in pound | The Times

Elegant Hotels Group, the Caribbean hotel operator, said it had reviewed its pricing strategy in response to the slump in the value of the pound. It said that rates had been discounted on “a targeted and tactical basis” at some of its hotels in an attempt to drive up room occupancy, although prices at The […]

Surge pricing goes universal: some effects | Nouslife

Surge pricing goes universal: some effects | Nouslife

Downsides not mentioned: this would blow a hole in rpi calculations and render difficult or impossible inflation calculations and thus problematise things like index-linked pensions or other payments relying on rpi systems (note the comment in the article “Increasingly, there is no such thing as a fixed price from which sale items deviate”). There’s an […]

Dynamic Pricing: When Should Retailers Bother? | Forbes

Dynamic Pricing: When Should Retailers Bother? | Forbes

Before I get started on answering the question about whether retailers should bother with dynamic pricing, let’s first define what it really is. Dynamic pricing is the act of changing a price multiple times throughout the day or week. There is some expectation that the frequency of price changes is unusually high relative to how […]

Opinion: Putting dynamic pricing back on the shelf | Retail Week

Opinion: Putting dynamic pricing back on the shelf | Retail Week

Reactive pricing Improvements in technology are providing the opportunity to experiment with in-store dynamic pricing initiatives, following the lead of online retailers like Amazon and eBay, who flex pricing in response to demand and supply. Could digital display allow food retailers to experiment with the same concept for perishable goods? In a supremely competitive environment, […]