Delivered/Recognized Value: Driving Profitability Growth through Dynamic Pricing
Ticketcorner was able to become a pioneer in dynamic pricing for the ski-ticket industry. They achieved this honor because they were the first to move the industry from staticity to a dynamic system that can factor in snow quality, seasonal changes, and the popularity of skiing in the region. Value-based pricing was a positive for new price-sensitive skiers who were willing to take weather-related risks. This type of skier, who would not otherwise visit the ski slopes, purchased their tickets in advance and were then rewarded with lower prices.
The introduction of dynamic pricing brought to participating ski resorts a better-balanced cashflow throughout the season, increased sales volume and, with that, also an increased demand for associated business (hotels, restaurants, etc.). By utilizing the available weather data, which was seamlessly integrated into Pricefx’s pricing engine, businesses can successfully lower their dependency on positive weather conditions.
Pricefx’s solution further facilitated the shift from offline to online booking and enabled Ticketcorner to collect additional behavioral data to support their business activities further. The move online became a driver of profitability, lowering the impact of the weather, increasing efficiency in quoting, and setting Ticketcorner apart from its competitors that did not utilize a dynamic pricing model.