In the wake of the smartphone boom and the 2008 economic decline, customers became more cognizant of how they shop, as well as how much they are willing to spend on their selected products. Many retailers responded to this by introducing dynamic pricing, a fluid system based on the supply and demand of the products available. Debbie Hauss, Editor-in-Chief of Retail TouchPoints, had the opportunity to interview Alexander Rink, CEO of 360pi, to discuss how retail technology is developing to accommodate and embrace dynamic pricing. Rink also explains how traditional retailers can leverage technology to compete with e-Commerce giants such as Amazon, and the necessity for retailers to understand how to implement a pricing plan effectively.
Advertisement
