Subject: Home windows upgrade (#)

From: "Jacob Gilman" <[email-masked]>
Date: Mon, 20 Jun 2016 10:59:30 -0700

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(1) replacment #9810886

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The simple rules of dynamic repricing
Despite these potentially expensive consequences the repricing software market is continuing to expand rapidly leveraging off the huge scale of ecommerce which hit nearly US trillion in sales for and the increasing ease of internet price comparisons For etailers managing s of s of stockkeeping units it is all but impossible for decisionmakers to monitor and optimise Thus sellers have little option but to turn to automated technologies to make many of their pricing decisions
The vast majority of repricing tools are designed primarily for marketplaces such as Amazon and eBay where customers are able to easily compare of products without incurring significant cost
Most algorithms implement simple price rules such as setting the price at a percentage or set figure less or more than the sellers close competitors It may also include rules such as always have the lowest price or ignore sellers with feedback X or less or match price to other sellers Almost all schemes have basic functions written in such as the ability to set a minimum and maximum price to avoid incidents like The Making of a Fly scenario
In a recent study Repricing Algorithms in ECommerce I set out to compare these different algorithms from a modelling point of view to find out how successful they were and just how much sellers using simple rules were leaving on the table The study also considered the quality eg feedback score of the seller and the difference this made to pricing
Surprisingly despite the range of complex algorithms that one can design the findings lend some credence to the simple repricing rules typically being used For example a seller with a feedback score lower than its competitor could set up a simple multiplicative pricing rule such as Price x below my competitor while a seller with a better quality rating than its competitor may first decide on a minimum price he is willing to sell at y and then set a pricing rule such as Price y plus a markup expressed as a percentage z of the competitors price The study found that these simple rules with adequately estimated parameters helped the market find its own equilibrium and in fact sellers who used them were doing as well as competitors with more robust rules and processes.

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