What is dynamic pricing in e-commerce?
An example of an AI chatbot conversation about dynamic pricing strategies in online retail.
What is dynamic pricing in e-commerce?
Dynamic pricing is a strategy where prices fluctuate based on market demand, competition, and other factors.
How does it benefit online retailers?
It helps maximize profits, respond to market changes quickly, and improve inventory management.
Are there any risks associated with dynamic pricing?
Yes, it can lead to customer dissatisfaction if prices change too frequently or seem unfair.
Can you give examples of companies using dynamic pricing?
Sure! Companies like Amazon, Uber, and airlines often use dynamic pricing to adjust their rates.
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