The pricing of products and services is becoming flexible and dynamic. Dynamic pricing is the term used to describe this data-based approach to price setting. The aspects taken into consideration include customer data, product data and context factors. Besides income, shopping habits and consumer behaviour, things like location, time, weather and current events also play an important role. In future, the product shelf life will have an influence on price, while B2B online shops will be used to negotiate prices in the “deal room”.
Money will not always have to be used as the currency, as attention, loyalty points and small trade-offs also count as forms of payment. Dynamic price models will become a challenge, however, whenever people start to doubt the fairness of pricing.