Dynamic prices

When an algorithm determines how much you pay

Yesterday the price was a completely different one: dynamic and personalized prices make it difficult for consumers - now even on the ski slopes.(Bild: stock.adobe.com/andrey)

Even skiing - as reported by krone.at - is no longer immune: more and more businesses that also offer their services and products online are relying on so-called dynamic prices, which are determined by an algorithm and can change on a daily or even hourly basis. The phenomenon is more widespread than you might think. Even in the "analog" world, prices are increasingly moving around.

Supply and demand determine the price - right? This once iron law of the market still applies in principle in the age of dynamic prices. When everyone wants to hit the slopes, the tickets are more expensive, the off-season offers cheaper skiing fun - this is the reasoning of those ski resorts in Austria that rely on "dynamic pricing". Timing is also crucial: If you buy your lift pass early, you may get a better price - but of course there is no guarantee of snow. However, apart from price adjustments due to timing and capacity utilization, there are many other factors that influence the price. Krone+ reveals why retailers in Austria are making more and more adjustments, when the algorithm calls out the higher price, where you should pay particular attention - and why many don't notice.