Can you explain to me how Vendo Dynamic Pricing works in a way that I can understand?
Yes, we hope so! Let’s try. The math behind it is complicated but the concept is simple. People are willing to pay different amounts for the same product. Giving some people a lower price gets them to spend more and giving other shoppers a higher price gets them to spend more. The worst thing you can do is ignore the differences and give everyone the same price. Doing that costs companies between 10% and 20% of the revenue.
Here’s a video to explain more and a rather long blog post where we go in depth.