Mad_Cyril What’s the dynamic pricing shizzle?
Really dynamic pricing has been around for a long time, but it used to be called price discrimination.
Basically, whenever a firm realises that they can jack the price up due to high/inelastic demand, they do. It’s happened for years on our railways, for example, with peak-time pricing to maximise revenue. Cinemas, airlines, hotels and so on.
The ‘dynamic’ part of it is just that it’s, I suppose, is that the pricing can be even more responsive to data coming in about demand now that everything’s online or through apps. Previously, your data was just ’oh, there’s a really big queue outside Piccadilly Records’.
In short, profit maximisers being bigger cunts more immediately.
