Amazon, Facebook, and eBay have all taken steps to fight the rising price of hand sanitizers and face masks, two weapons in the battle against coronavirus.

For sophisticated retailers and eCommerce merchants, product pricing is a delicate tool used to both encourage customers to shop and generate profits.

Circumstances where a limited lowest price strategy can be successful.

There’s really just one problem with using the data. It’s hard to know what to do with it.

Retailers who forego dynamic pricing engines, and simply go with their gut, there’s one easy way to know if they were on target with their pricing

As our customers get more comfortable with dynamic pricing, and start seeing increases in revenues and profits, they typically start to increase their trust in the system. User rules are used to define pricing strategy rather than to limit the AI component of the system

While consumers always want the latest and greatest, retailers find themselves in a bind, wanting to clear their inventory of previous year’s models while capitalizing on the excitement of the newest models.

Dynamic pricing, when done using a pricing engine like Quicklizards, relies on an 80%-20% method for price calculation. The 80% in this equation is the work handled by the AI algorithms and machine learning techniques.