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by Sam Altman
Dynamic pricing is back. In 1845, people walked into price-free stores, and the price was decided then and there. More recently, we’ve seen this with airline tickets, fluctuating in price based on demand. Now, with mobile advances, we’re seeing the beginnings of dynamic pricing at a local level. Businesses are becoming empowered to reward loyal customers (come here often?), bring in new customers at slow times (come get discounts on school nights!), and, most notably, innovate past chalkboard specials.
Mobile dynamic pricing barely set foot through the doors of local businesses until recently, but early signs are hinting at a transformative model for offline businesses. Today, consumers are enjoying grabbing instant deals and generating their own deals; at the same time, credit card companies and marketers are joining in to reward activity. If done right, mobile dynamic pricing will spark a new, dynamic customer-business relationship, plus an extreme price-tag makeover everywhere.
9th–13th March 2012