The pricing spring event season is just about to get started for us here at Price Edge. The first conference we will be attending will be the NYPS 2018 event in Lisbon next week.
After Lisbon, you can also find us at the Pricing Exellence event in Milan in late May.
If you are attending one of these events, make sure to stop by our booth to learn more about our pricing software. We love to demo it and test out its flexibility.
What happened lately that made dynamic pricing such a priority? Well, the answer is easy. It’s been Amazon.
We must recognize Amazon as the driving force behind dynamic pricing. Their adaptability to a vast and diverse inventory has set a benchmark for competitors to follow in their footsteps.
Analysis has shown that a 1% increase in realized price brings an 8% improvement in operating profit, whilst a 1% improvement in market share or variable costs brings about only 4%. This makes it clear that the beliefs against changes in pricing should be overcome, else money is left on the table and the door is open for competitors who understand the power of pricing.
