Consumer affairs, Airline industry, Hospitality industry, Ticket prices, Money, Oasis, UK news, Business, Music, Culture Business | The Guardian
After the Oasis ticket row, experts say fluctuating charges could become the norm in other industriesPaying a premium for a flight during the school holidays or a cab at peak hours might be expected but fluctuating charges – otherwise known as surge pricing – could become the norm in other industries, say experts.According to Omar Merlo, the academic director of strategic marketing programmes at the Imperial College Business School, surge pricing – widely known as dynamic pricing – is when retailers adjust their prices in response to supply and demand, meaning customers are charged higher prices when demand spikes. Continue reading…
After the Oasis ticket row, experts say fluctuating charges could become the norm in other industries
Paying a premium for a flight during the school holidays or a cab at peak hours might be expected but fluctuating charges – otherwise known as surge pricing – could become the norm in other industries, say experts.
According to Omar Merlo, the academic director of strategic marketing programmes at the Imperial College Business School, surge pricing – widely known as dynamic pricing – is when retailers adjust their prices in response to supply and demand, meaning customers are charged higher prices when demand spikes.
