A Step-by-Step Guide to Real-Time Pricing

For digital retailers, the ability to revise prices swiftly and on a large scale has emerged as a decisive differentiator—especially during periods of inflation, when prices fluctuate more frequently. Many retailers scrape rivals’ websites for price information and use it to set their own prices manually or automatically, often using a strategy of charging X dollars or X percent less than the lowest-price competitor. However, retailers that use such simple heuristics miss significant opportunities because they fail to tailor their responses to product availability and demand, among other factors.