Dynamic pricing is not just a trend; it's an essential strategy that retailers employ to optimize sales during high-traffic events like Black Friday, constantly adjusting based on market conditions.
Surge pricing occurs when demand skyrockets and supply is limited, allowing businesses to capitalize on peak times by increasing prices, which can significantly impact consumer behavior and shopping decisions.
Retailers use dynamic pricing not only to enhance competitiveness but also to personalize the shopping experience, creating tailored promotions and discounts based on consumer data.
Black Friday exemplifies dynamic pricing as retailers employ constant price changes in reaction to competitor actions and consumer purchasing patterns to maximize sales opportunities.
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