Just how often does Amazon change prices throughout the day? And when do other leading retailers adjust their prices? Price intelligence and optimization leader 360pi is out with a new report that answers those questions and sheds lights on some surprising pricing tactics at top retailers.
The report, titled “When Should You Change Your Prices,” explores the phenomenon of pricing dynamism at leading retailers and assesses its effectiveness. What 360pi discovered is that the level of price dynamism can vary dramatically across retailers.
This is true during what the firm called “normal” shopping periods when some retailers make daily price changes on as much as 20% of their assortment to other retailers who make no changes. During peak shopping periods such as the holidays, the volume of price changes can easily double, according to 360pi.
For example, the firm noted that last holiday season Amazon averaged more than three million daily price changes in November alone. In addition to daily price change behavior, 360pi also observed weekly and hourly patterns across retailers.
With a wide variety of pricing strategies in play on the Internet, the 360pi report is designed to enhance retailers’ understanding of pricing dynamism as they develop and refine strategies to compete effectively online. Click here to download the report.