Dynamic pricing (also known as surge, demand-based, or real-time pricing) is a strategy where product prices are automatically adjusted in real-time. It uses algorithms to analyze data points such as competitor prices, current market demand, inventory levels, and even the time of day to set the optimal price for a sale at any given moment.
What exactly is dynamic pricing, and how does it work?
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About the Author: Derrick Ogara
Derrick is an ecommerce management expert skilled in strategies that ensure ecommerce profitability long term. When Derrick is not solving ecommerce headache, he's petting his fish or watching anime.