![]() Increased revenue: Be more competitive and increase your sales.Dynamic pricing is a method firms use to constantly adjust the price of goods/services depending on demand. More efficiency: Save time and money and have total control of your pricing strategy. ![]() ![]() Real-time data: Obtain a real vision of the price of your products in the market. Make the right choice: Make better decisions concerning your products’ prices. Monitor your competition: Visualize the price of your online rivals and anticipate changes. Below you will find all the benefits of integrating a dynamic pricing solution: This pricing strategy is the key to save time and money, as well as to increase your ecommerce conversions overall. Why Dynamic Pricing is a “must” for your business As long as the prices do not discriminate in any way based on gender, race, religion, for example, the fact that prices change continuously and thanks to technological solutions, is not illegal at all. You will then be able to decide on which direct webs, marketplaces and aggregator websites to apply that rule, making sure that online users land on your website and choose your product over the ones of your competitors.ĭynamic pricing is a very useful problem-solver but only when applying data-driven pricing softwares like the one we provide which ensures precise and real-time data.Ĩ0% of our customers enjoy an increase in sales and Buy Box ownership during their first 15 days thanks to our Dynamic Pricing solution.Īlthough it may seem intrusive to have access to all the prices of our competitors’ products, what a pricing solution does is gather information that is publicly available on the web. Imagine your goal is to always offer the lowest price to your customers, for instance, then defining this pricing rule on our dynamic pricing solution might be the right choice for you. Thanks to this technology you are able to set pricing rules that make sure you always offer the best prices while respecting your profit margin. In order to calculate the best price for your products, it takes into account your acquisition price, the prices in your catalog, the number of existing competitors for each of your products, as well as the availability of stock. Since prices change so fast in the Commerce Everywhere era and consumers are getting more and more demanding, the only solution for leading the market is to choose price intelligence softwares, like our Netrivals solution, which browses the web and compares prices from over +32K websites.Ī dynamic pricing solution suggests prices for your products according to several rules or parameters and considering competitors’ prices. How does a Dynamic Pricing solution work?Īlthough there are still many businesses setting prices manually, they observe how time-consuming and costly it is to monitor prices one by one. This helps companies stay competitive in the market and adjust their prices according to their competition.īut, how can an e-commerce business know which price to select for its products? This is when the use of dynamic pricing solutions comes into play. In the e-commerce environment, dynamic pricing is used as a method to adapt the prices of products based on a set of predefined rules that respect the profit margin. Contrary to static pricing, it allows an expansion of revenue generation instead of having the same price level in every market situation and less revenue stimulation. ![]() And most importantly, why do online businesses need dynamic pricing solutions?ĭynamic Pricing is a pricing strategy that enables businesses to set multiple price points according to different factors, such as time of the year or customer demand.This online giant has been applying dynamic pricing strategies on a daily basis, but: It has become a trend amongst retailers, and now brands as well, who want to have total control over their market share and improve their competitiveness online.Īmazon is certainly one of the online retailers and marketplaces e-businesses compete with the most, as they change their prices on average every 10 minutes, offering very attractive prices to buyers. If you own an e-commerce business or are responsible for developing pricing strategies for the company you work at, you might have heard of dynamic pricing.
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