Amazon uses dynamic pricing and changes its prices on average every 8 minutes.
Walmart, a leader in the loss-leader pricing strategy, changes its prices roughly 50,000 times a month.
Our dynamic price strategies
Quicker, more profitable sales
Ability to adjust to competition pricing
Improved trend understanding
Better inventory management
Higher upsell conversion rates
Increased customer traffic
Increased value perception
Supply and demand based on locality
Customer behavior oriented
Conversion rate pricing
Dynamic pricing works best in the following situations:
• Competition driven: When it is used in concert by all of the major players in an industry. Thus, if a single seller were to keep its prices low during the peak demand season, it could likely steal business away from competitors.
• Demand driven: When demand fluctuates considerably in comparison to a relatively fixed amount of supply. In this situation, sellers reduce prices as demand falls and increase it as demand increases.
Our Dynamic Pricing Strategies caters to needs of multiple industry segments:
Commercial Taxi Industry
Retail & CPG
Petroleum & Natural Gas
Our Dynamic Pricing Strategies help businesses in multiple ways, few specific advantages are :
• Airlines Industry: Airlines often use one or a combination of three methods to create customized offers: dynamic availability through fare levels, bundling and unbundling of services with fares, and personalized fare prices based on broad market segmentation.
• Retailers: Can use price intelligence to reprice based on the prices of their competitors and adopt demand based price adjustment strategies.
• Markdown/ Discount strategies: helps businesses selling short life-cycle products subject to fashion trends and seasonality-airlines, hotels, clothing stores, specialty retailers and mass merchants.
• Dynamic pricing is a pricing strategy which applies variable prices instead of fixed prices. New and optimal prices are calculated and recalculated periodically, every day or even every hour.
• The essence of dynamic pricing is offering the right price to the right customer, at the right time, for the right product to increase the company's sales and margin.
• With dynamic pricing your prices change in response to real-time supply and demand. Dynamic pricing will allow your company to remain competitive with 24/7 price monitoring and changes, and could substantially boost your profits.