The airline industry pioneered the practice of dynamic pricing in the 1980s. With the evolution of retail from brick-and-mortar stores to e-commerce, dynamic pricing has quickly become a prominent factor that determines the success of online sales. This pricing strategy, also known as Real Time Pricing, reprices products based on consumer insights, market movements and competitive pricing.  Earlier repricing was done manually, but with the advent of machine learning, this job has been handed over …

Dynamic Pricing 101: The Ultimate Guide Read More »

We are at the cusp of the new year 2023, and consumer electronics retailers are scrambling to formulate the perfect pricing strategies for their brands. But designing growth and profit-centric strategies requires you to do a deep data study of customer behavior and market dynamics. And this is not always possible for retail brands that need to focus on delivering superior customer experience and may not have the bandwidth to dip their toes in big …

Key Insights to Help You Prepare for 2023 Pricing Strategies Read More »