Dynamic Pricing and Digital technology unlocks ample opportunity in Air industry

Digital technology unlocks  ample opportunity in Air industry for both passengers and carrier. It completely changes the business procedure and style in air industry. Now  a days a passenger easily can  book and purchase air ticket from his home, whereas an airline easily offer their products through website or mobile apps, no need to open many sales outlets. Technology brings all airlines on a single platform ,

 that is online., all competitors airlines distribute their products for web sale, as a result a passenger get lower fares or competitive fares. If a passenger just check conditions of fare rules then he/she has no scope any financial loss rather gain. 

Digital technology reshape pricing technology of airlines, it adopts dynamic pricing. Dynamic pricing is a pricing strategy. It reduces the cost and maximize the revenue. Dynamic Pricing and revenue management(PRM) concept facilitates both party.  Dynamic pricing have a scope how airlines charge different prices to different customers for the same seat in the same flight .Enhance Shopping Experience and Product Offerings, E-commerce and Offer Management, Attract GEN-Z,GEN-Z  Prefers Digital Technology.

• Price of  service  or product is constantly adjusted based on:-
• Demand and Supply
• Seasonality
• Point of Sale
• Competitors’ Fare
•  Market conditions 
• Flight capacity/ Equipment Type
• Ancillary Revenue
• Adjustments in capacity and flight frequencies,
• Time of day, day of the week, and even the weather.