OnDemand WTP Pricing Research

Utilising Dynamic Pricing In Offline Retail | Intouch Insights

Traditional pricing is set either based on the cost of production or on the price that competitors are charging. This ancient method has been slow to shift into the new and fast paced online world that we live in today.

Dynamic pricing is when a company changes their pricing to match demand and supply. Whether we like it or not Dynamic Pricing is everywhere. Hotels, Airlines and even Amazon are changing their prices by the minute to reflect current market conditions.

What all these have in common is that they’re internet based companies. Traditionally, Offline retailers pricing has remained static whether there’s 1 or 1000 people in store, although this is about to change!

Transitioning from static pricing to dynamic pricing overnight would be a struggle however, as it requires investing time in both hardware and software to be successful. Below are some of the keys to success.

Read complete article here:

Utilising Dynamic Pricing In Offline Retail – Intouch Insights.

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