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real-time dynamic pricing?

Which companies might integrate real-time dynamic pricing into there pricing strategie?

A basic concept in Economics 101 is that price serves to equalize supply and demand. Looking at all industry we can see variable pricing points as a result. Take a restaurant as an example (in the service industry we can see extremely variable pricing points) we can conclude that when there is a line or wait list, the prices are too low and when there is empty capacity, the prices are too high.

The travel and hotel industry successfully implement dynamic pricing to optimize their profits (supply and demand), but the instruments that are being used today are pretty blunt. Recently companies in the mentioned markets are moving forward and most of them are starting to experiment with real-time dynamic pricing.

Real-time dynamic pricing is a new development that is being used in some industries. Instead of the easy to implement dynamic pricing, real-time dynamic pricing will take more knowledge and resources. For this reason it is a guess how long it will take before real-time dynamic pricing is integrated in other sectors.

But with the recent developments we can easily see that it is likely that real-time dynamic pricing will be the norm in the future. This means that you have to get over the mindset that nobody else should pay less than you pay. Products can look like good value, but there always will be a possibility that a price drops later.

Real-time dynamic pricing wont happened overnight but it is certainly coming and it will be a part of pricing strategies for all markets in the future. My personal prediction is that we will all come in contact with dynamic pricing in our daily economical activities. This is also the reason I have started a new start-up called Fastpricing. With this concept we want to build a pricing platform that shows all the real-time dynamic prices and also makes prices with its own algorithms. With my new start-up we also want to simulate companies to integrate real-time dynamic pricing. With the Fastpricing platform we are striving to make the integration to the complex real-time dynamic pricing possible for companies off all sizes big and small.

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