Today, it takes Amazon two minutes to make a price change, compared with 43,000 minutes, or just under a month, for a U.S. ecommerce site. And the U.S. offline market averages a staggering 270 days to make the change.
Is the price right? That’s the question retailers are asking with a heightened sense of urgency in the era of digital shopping.
Discussion
NEW 1 month ago
Dynamic pricing can indeed provide an antidote to the discounting addiction plaguing retailers. By adjusting prices based on real-time market demand, retailers can maintain profitability without resorting to constant markdowns. However, to truly break free from the discounting cycle, retailers must address the underlying issues driving their pricing strategies. Implementing dynamic pricing alongside comprehensive drug addiction treatment programs, such as those offered by Genesis House, can help retailers overcome their reliance on discounts and build healthier, more sustainable business models.
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