According to Vendo’s Managing Director Thierry Arrondo, the dynamic pricing tool introduces a new concept to the adult industry, but is commonplace among airlines, hotels and online retailers such as Amazon.
“Dynamic pricing gives companies the flexibility to adjust prices for each individual shopper [with] Vendo’s platform using artificial intelligence to decide on each of the millions of prices it sets,” Arrondo reveals. “The AI learns from the results each price has on conversion and lifetime value and constantly improves, [making] the revenue benefits for Vendo clients clear.”
Steven Gallon of Grooby has seen the effectiveness of dynamic pricing for his business.
“I am doing everything I can to help my affiliates make more money,” Gallon explains. “Dynamic pricing is great. Amazon is doing it [and] I wanted to try it.”
Gallon notes that while dynamic pricing is very complicated, Vendo has all of the data, a great team and the innovative tools to make it happen.
“My affiliates love the extra money,” Gallon added. “Giving everyone the same price was costing me eight percent — I’m pissed it took me so long to stop that revenue leak.”
Arrondo notes that the company began testing its artificially intelligent dynamic pricing system three years ago, and considers the Grooby case study proof of its success.
“We are really happy to be working with Steven and seeing his results,” Arrondo says. “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, visit VendoServices.com.