Dynamic pricing for clothes and electronics now

Dynamic pricing has become quite common for segments such as airfares and hotels and is now being used for apparel, consumer electronics, personal care and other segments as well. According to Vishnu Prasad, CEO of Pantaloon Retail, “With the advent of modern retail, dynamic pricing can get a good response in our price-sensitive market. However, it should be done keeping in mind the consumer acceptability in respective markets as well as the store format.” The prices of products can respond to supply and demand factors in the market due to this kind of dynamic pricing, usually in the customer's favor.