Dynamic- or Algorithmic Pricing

The range is an important driver for the entire marketing mix and price is an important driver for the EBIT (earnings before interest and tax) of the organization.

At the moment, pricing is generally based on experience and intuition or through agreements with suppliers. Pricing often does not yet take into account different types of customer behaviour, price sensitivity per product, seasonal influences, customer preferences and data-driven insights. Dynamic or Algorithmic Pricing consists of technology that is able to predict the optimum price for individual orders. Customers are tempted to fill their total shopping cart at your company, which results in higher sales and a profit margin.