Point of Sale (POS) Glossary
Variable pricing occurs when a retailer offers a product or service at different or frequently changing prices versus a fixed amount. An example of variable pricing might be a merchant offering one price on their website and another price when purchased at a point of sale register in a physical store. Another example might be a seafood restaurant that adjusts its crab or lobster prices based on frequently changing market costs.
A retailer may change prices for sales or seasonally, but this is not considered variable pricing. Variable pricing is a much more frequent adjustment of cost or pricing based on demand, stock, location, and other dynamically changing things. A robust POS terminal may be configured to handle both fixed and variable pricing.
Customers love promotions! Buyers are often pulled in by one deal and wind up buying regularly priced merchandise in addition to, or sometimes instead of your discounted items.
An eCommerce website is open 24/7 and accessible from all over the world. Being online and having physical store opens your business to a global market.