How Dynamic Pricing is Disrupting Online Retail in 2017

With the era of online shopping came the concept of dynamic pricing. This is a natural turn of events that might not be working as well as expected.

Dynamic pricing is a strategy based on which retailers change the price of the product based on supply and demand.

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How to Use a Dynamic Pricing Strategy for Your Shopify Store

If you have a Shopify store, then you likely already know that the market is forever changing, especially in the online marketplace. Therefore, to keep your sales at their highest, your pricing strategies have to change along with the prevailing market conditions. Dynamic pricing strategies will allow your store to be at the forefront, and still make profits, no matter the conditions of the market at that time.

Not a lot of people know how to use dynamic pricing strategies for their Shopify stores, however, and this can lead to a bit of confusion in how to see returns on their investments. In an effort to take that away confusion, let’s break down dynamic pricing strategies, so you can learn how to use them in your Shopify store successfully.

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Dynamic Pricing in the Big Data Era

After the Thanksgiving marketing push, Black Friday online sales were up close to 20 percent in 2013 over the same period last year. For the uninitiated, Black Friday is the day after Thanksgiving that marks the start for the Christmas shopping rush.

As many brick and mortar stores remain closed on Thanksgiving, Black Friday is a great opportunity for eMarketers to earn profits. One of the greatest plus points as far as ecommerce sites are concerned are the various pricing options they present.

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