Dynamic price optimization is becoming increasingly popular among retailers. Machine learning has exponentially increased their ability to process data and apply this knowledge to real-time price adjustments. But the necessary software is still relatively expensive. So how can it really help businesses? And, most importantly, what’s the return on investment at the end of the day?
The COVID-19 pandemic has pushed companies to rethink their business models. While e-commerce was in a much better position than any other industry to face this challenge, they also had to undertake certain steps to effectively operate in the new reality.
No one was prepared for what the COVID-19 pandemic has brought upon the world. Social isolation has pushed some companies out of business, forcing others to reorganize the way they work in order to stay afloat.
A world in which nearly everybody now carries around a smart device – i.e. the smartphone – is what has enabled this revolution in retail. Read on if you want to find out how smart retail can take ecommerce to the next level.