Are you familiar with dynamic pricing? Dynamic pricing is catching on among airlines, hotels, clothing stores and the list goes on. U.S. News and World Report Contributor, Geoff Williams, fills in us consumers on what we need to know.
You've probably noticed it, even if you weren't aware of its name. You see a shirt at a store. It's a little pricey, so you decide not to buy it yet. The next day you return, and the shirt's price has risen $20. Or maybe it's cheaper. That's the thing about dynamic pricing. It describes a price that is dynamic and doesn't remain fixed for very long.
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