Travel Experts Discuss “Dynamic Pricing” and How Industry is Beginning to Set Prices Based on Consumer Income/Shopping Habits | Markets Insider

NEW YORK, April 4, 2018 /PRNewswire-PRWeb/ — The term “Dynamic Pricing” has been bantered about the travel industry for quite a while, but it certainly didn’t originate there. The retail industry has been tracking consumer purchases for quite some time and pushing discounts and special offers on future products based on past purchases. What makes Dynamic Pricing a bit more intrusive today is the ability for manufacturers and service providers, including the airline industry, to offer the same seat to different people for different prices, based solely on personal demographics such as the type of car you drive, hotels you book, and restaurants you frequent. In other words, pricing based on what they think you can afford. The question now becomes, does this cross an ethical line with targeted marketing?

ExpertFlyer.com recently went One-on-One with three travel industry experts to get their thoughts about the ethicality of this paradigm shift in targeting potential customers. They also shared ideas about what consumers should be doing to minimize their exposure and avoid overpaying for services based on the perception of financial worth and retail/website search habits.

“There’s a lot more going on here than just dynamic pricing,” explains privacy expert Kevin Ells at eBlocker during his Podcast with ExpertFlyer.com. “It’s personality profile building and every time you’re shopping or every time you’re browsing around the web, you’re being tracked. The best thing you can do today is try to be as anonymous as possible. Don’t login unless you have to.”

Daniel Levine, a trends expert at the Avant-Guide Institute, says dynamic pricing has been happening in the tourism world for decades. “However, what is changing now,” Levine explains, “is that Big Data is allowing airlines and other businesses to ID individual purchasers and tailor prices specifically to them.”

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Travel Experts Discuss “Dynamic Pricing” and How Industry is Beginning to Set Prices Based on Consumer Income/Shopping Habits | Markets Insider.

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