Dynamic pricing in retail

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However, this approach is not entirely suitable for software companies, music producers, etc., because the price of the product is much higher than its value.


The simplest way to describe dynamic lebanon telegram number database pricing is that your price is not static, but instead changes based on other factors. These factors could be, for example, segments or time.

Dynamic pricing in segments
Companies use algorithms to calculate prices for different groups based on statistics.

Let's say you have a car rental company, and your AI specializes in raising prices in places with lots of pubs and bars. If that sounds highly illegal and impractical, we can assure you that it's not. We're just describing Uber.

Dynamic Time Based Pricing
This type of pricing is often seen in sales-oriented businesses such as car or insurance dealerships where there is a rush to close deals at the end of the month. This is when dealers offer lower prices on items that meet their sales quota than they did at the beginning of the month.

In the real world, we see this all the time. Amazon , Uber, airlines - they all use dynamic pricing based on supply and demand.