If you've taken an Uber, booked an airline ticket, or made a hotel reservation, you've experienced Dynamic Pricing. Simply put, Dynamic Pricing is a sales strategy where businesses set flexible pricing that continuously adjusts in response to real-time supply and demand.

The Benefits of Dynamic Pricing

• More sales and profit - With Dynamic Pricing, merchants increase prices on the products in great demand – netting you more profits and sales.
• Sell more in downtimes - Sales are usually poor in times of low demand. But with Dynamic Pricing, you can save some business by lowering prices to suit lower demand.
• Better inventory management – Dynamic Pricing allows you to discount overstocked products while increasing prices on high-demand products earning you more revenue.

Inflation Can Be A Motivator. 

This year, price increases have become more common because of inflation's impact on the economy, which may be another reason for restaurant and retail merchants to consider Dynamic Pricing. A Dynamic Pricing strategy should grow revenue, profitability, and margin performance when done right.

In a  recent survey conducted for QSR magazine by Sherri Kimes, an Emeritus Professor at Hotel School at Cornell who specializes in pricing and revenue management, the top reason (92 percent of respondents) was to use dynamic pricing to increase revenue. The second most chosen response (82 percent) was to spread the demand to slower periods, while the third was to better manage capacity (70 percent). These responses indicate a good understanding of the fact that dynamic pricing is not just about increasing prices during a busy time period. 

If you want to grow your restaurant and increase your revenue with new strategies but you're worried about the cost, Quikstone Capital Solutions can help. 

Since 2005, Quikstone Capital Solutions has been a trusted business advisor to thousands of merchants across the country. Providing merchants with millions of dollars in cash for all their business needs. 

Use our ROI calculator to determine how an investment in your business through a cash advance from Quikstone can help you grow. Contact us today for a no-cost consultation to see if our funding is a good fit for you.