Price fluctuation "dynamic pricing" spreads according to supply and demand December 8, 6:23
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A new pricing method called “dynamic pricing” that changes prices according to supply and demand is spreading in a wide range of fields, including retail sites and live music tickets.
Dynamic pricing is a method in which AI changes the price by analyzing the demand that changes according to the season and weather, and there is a movement to consider introducing it in retail as well as hotel accommodation fee, aircraft ticket.
Among these, “Nojima”, a consumer electronics retailer, has introduced a system for digitally displaying product prices at all 185 stores, mainly in the Tokyo metropolitan area. In the future, the company will also use AI to analyze the best selling products and prices of rival stores and consider the introduction of a system that determines the optimal selling price for each store.
Nojima's Nozomu Sadamori group director says, “We are considering a full-fledged study, but I think it is necessary to save labor with the power of AI to set a wide variety of prices.”
With regard to dynamic pricing, Avex Entertainment, a major music company, is expanding for the first time in a live performance by a Japanese artist alone, for example, for the price of Ayumi Hamasaki's live ticket this month.