Dynamic pricing, price optimization, profit-maximizing software; we find many names for those we love. I will try to answer: what type of software support e-commerce companies use for full automation of changing prices to maximize profit and/or market share.
To keep this text on a high level I will elaborate on the pricing of two important categories of products: key products and tail products.
Like traditional retailers, e-commerce companies are keen on being seen as the most price competitive on the key products. Wheater you are a consumer electronics company offering iPhones and Samsung TVs, a street clothing retailer selling Adidas or Nike sneakers, or you are shipping newly released books to your Continue reading »