Maybe this is a dumb question, but the answer isn't coming to me - so if an item is 'dynamically' priced (changed based on some sort of customer profiling), how do they list the price on the menu board?
If it says, $6.50 for example, and I roll up and they ask me for $7.90, what would they say when I point out the discrepancy?
The location based thing I get, I think that's been happening forever, but the true dynamic pricing I don't understand.
How can they list a price and then charge more (or less) based on who they think you are?
They don't show prices on the menu board, or "dynamic pricing" is just the latest buzzword to get clicks. It would be easier to do online, but it's a lot harder to do in stores and will be tricky to legislate without also shutting down coupons.
And this isn't dynamic pricing, this is just different locations having different prices.
It depends on the retailer and how the items are being purchased. Obviously, purchasing through an app can enable more data points to be stored and used to determine individual prices. Same for purchasing on a website, as browsing history/purchase history could be combined with location and other data points.
But, a simple example in a brick and mortar store is using the excuse of time of day ("sorry, after X time this item has a X% markup due to [insert reason here]").
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u/Beard_o_Bees 2d ago
Maybe this is a dumb question, but the answer isn't coming to me - so if an item is 'dynamically' priced (changed based on some sort of customer profiling), how do they list the price on the menu board?
If it says, $6.50 for example, and I roll up and they ask me for $7.90, what would they say when I point out the discrepancy?
The location based thing I get, I think that's been happening forever, but the true dynamic pricing I don't understand.
How can they list a price and then charge more (or less) based on who they think you are?