Dynamic Pricing for E-commerce: Pros & Cons
Dynamic pricing is a strategy that’s been used by companies worldwide for a long time; the airline industry first developed it in the early 1980s. Due to the continuous digitization of the world, dynamic pricing has become more relevant in other industries like eCommerce. If you run an eCommerce store, dynamic pricing is a tool you must use as you stand to gain a lot from implementing it.
How the NYOP Pricing Strategy Helps Online Store Owners
Telling your customers to name the price they want to pay for your product or service seems weird. Who wouldn’t want to pay the lowest price possible for a product? The Name-Your-Own-Price (NYOP) concept, first borne about years ago, has become much more of a fable now.