While the recent Wendy's controversy highlighted concerns around "surge pricing," a different form of dynamic pricing is emerging for brick-and-mortar stores. This approach utilizes advanced technology to offer localized price adjustments and promotions, benefiting both retailers and customers.

This article explores three ways dynamic pricing can revolutionize in-store experiences:

  1. Product Drops: Similar to online drops, stores can utilize dynamic pricing to manage limited-edition items and adjust offerings based on real-time demand.

  2. Entertainment Events: Dynamic pricing allows retailers to adapt to local events like concerts, fine-tuning promotions and tailoring product offerings to meet fluctuating demand.

  3. Weather Events: Stores can react to unpredictable weather patterns by adjusting prices and promotions based on real-time conditions, minimizing inventory risks and catering to unexpected needs.