How and when to use variable pricing

What is variable pricing?

Variable pricing, also known as dynamic pricing or surge pricing, offers flexibility to adjust prices based on various factors. These factors include demand, supply, competition, or even external elements, like weather or time of day.

By applying this strategy, you can optimize your revenue by charging different prices to different customers at different times. This enables you to maximize profits, manage inventory, attract customers during off-peak times, and remain competitive in the market. 

Which industries apply variable pricing?

Airlines are the trailblazers in variable pricing and have been employing it for the longest time. If you've ever reserved a flight and monitored prices over a set period, you're aware…