The consequences of dynamic pricing
Dynamic pricing is immensely popular with online retailers. This is when the prices displayed to individual customers are amended according to a range of different factors and analyzed in real time by database software, which then produces a particular price for a particular customer. The factors that are used in this analysis can be the frequency with which the customer has visited the site, how popular an individual item is on a specific day, and the current prices on competing websites. Prices can also be changed according to demand. This happens frequently in the travel industry, with ticket prices increa...
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