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January 13, 2016

Vendo Reports Strong Results for New Dynamic Pricing Tool

LOS ANGELES—Vendo reports its dynamic pricing is making an impact. The company released its first case study featuring Grooby to the public on their website today. The dynamic pricing tool is introducing a new concept to the industry, according to Vendo. It has been used by airlines, hotels and online retailers such as Amazon for years. Dynamic pricing gives companies the flexibility to adjust prices for each individual shopper. Vendo’s platform uses artificial intelligence to decide on each the millions of prices it sets. The AI learns from the results each price has on conversion and lifetime value and constantly improves.   Steven Gallon of Grooby has seen the effectiveness of dynamic pricing for his business, remarking, “I am doing everything I can to help my affiliates make more money. Dynamic pricing is great. Amazon is doing it. I wanted to try it. It’s very complicated but Vendo has all the data, great team and cutting edge tools to make it happen. My affiliates are loving the extra money. Giving everyone the same price was costing me 8 percent. I'm pissed it took me so long to stop that revenue leak.”   Vendo began testing its artificially intelligent dynamic pricing three years ago. They consider the success of Grooby a big win. Managing Director Thierry Arrondo said, “We are really happy to be working with Steven and seeing his results. We know it helps him be more competitive and run a better business. Dynamic Pricing has the potential to widen profit margins considerably for those companies that can implement it effectively.” For more information on dynamic pricing and how it works visit vendoservices.com.

 
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