How to configure “Dynamic Pricing”

Blanca Castillo
Blanca Castillo
  • Updated

What does “Dynamic pricing” mean?

Dynamic pricing is a way for businesses to adjust their prices based on market demand. This is often used by hotels, airlines, ride-sharing services, and e-commerce stores. The final price is determined by the date of booking and the current capacity at that time. Currently, this feature is only available on the desktop webshop, but it will be rolled out to other channels in the future.

To enable dynamic pricing on your desktop webshop, simply contact our support team at support@palisis.com.

Where can I find Dynamic pricing on your Palisis Dashboard?

Once the feature is enabled on your account, you can access it through the Prices > Tours & Tickets > Edit price configuration screen. Simply click the "Edit dynamic pricing" button and a new window will appear.

 

 

And a new window will be opened to configure your rules for each seat category and passenger category:

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How to set up Dynamic pricing in Palisis?

To set up dynamic pricing rules, you can create multiple rules for each seat and passenger category. The rules are based on the occupancy range and the time before departure. To start, you'll need to create occupancy ranges by clicking the "Add occupancy range" button.

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For instance, if the capacity template of your operation line has 100 spaces, you can create multiple occupancy ranges between 0 and 100. Just make sure not to overlap the ranges.

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Next, you'll need to create time ranges before departure. You can set this up by clicking the "plus" icon next to "all dates."

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Enter the amount of time before departure for the first time range in a logical order and then click the green tick. For example, if you want to create two different time ranges, one for two weeks before and another for one week before, then the first range you should create is the one for 2 weeks (2w).

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Now you can create your second time range by repeating the same process. This time, we will enter 1w to create a time range for one week before the departure:

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The following list shows the allowed time ranges and their abbreviations:

Time range Abbreviation
Year y
Month M
Week w
Day d
Hour H or h
Minute m

 

Finally, you'll need to enter the discount or markup you want to apply to the price. This can be a percentage or absolute amount and can be positive (for a markup) or negative (for a discount).

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And you can enter the positive or negative amount for every case of “occupancy range + time before the departure”:

 

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For example, you can offer a 5% discount if a customer books 2 weeks in advance and the occupancy is low, and a 10% discount if they book 1 week in advance and the occupancy is low. If the occupancy is high, you can increase the price by 5% if they book 2 weeks in advance and by 10% if they book 1 week in advance. Keeping this in mind, our dynamic pricing rule would be like this:

 

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To apply the dynamic pricing rule, select the passenger and seat categories you want to use. In our case, we have selected the Adult-Standard categories:

 

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You can also view the rule in a graphic format to see how the price changes over time.

 

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With dynamic pricing, your customers will see different prices on the desktop webshop based on these rules.