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What is Dynamic Pricing?


Dynamic pricing is a strategy that involves adjusting the price of a product based on market demand, seasonality, and other factors. It is a reactive approach that can change prices within minutes. 

Dynamic pricing is commonly used by companies such as airlines, hotels, ride-hailing services, and e-commerce retailers. However, the digital food delivery industry is now also starting to adopt dynamic pricing. 

Souffle is a company that helps restaurateurs use data from the food delivery industry to implement dynamic pricing strategies. There are several factors that can influence dynamic pricing for restaurants, including customer demand, promotions, market dynamics, customer loyalty, and timing. 

By considering these factors, restaurants can use dynamic pricing to maximize their competitive advantage and build customer loyalty.

– The Souffle Team