What does "dynamic pricing" mean?

A pricing strategy in which businesses set flexible prices for products or services based on current market demands.

Dynamic pricing

Common synonyms include: adaptive, adjustable, algorithmic, algorithmic pricing, automated, demand pricing.

noun

noun ·Rare ·Advanced level

Noun

1
A pricing strategy in which businesses set flexible prices for products or services based on current market demands. uncountable
"Dynamic pricing is hardly new. Airlines have been charging flexible fares for decades. Prices on Amazon change millions of times a day."

"Dynamic pricing is hardly new. Airlines have been charging flexible fares for decades. Prices on Amazon change millions of times a day."