“We used to use an agency for all our revenue management and it was one of those old-fashioned arrangements that nobody really checked. I started realising things were amiss as our prices were super low on holidays and then too high during random times. I was also having to call the consultant every day and manually change things myself. So I decided to do a proper appraisal of our revenue setup and realised that it was a real mess. We were paying way too much money for an RM who was, essentially, not doing their job.”
“Before 2020 we were running an old fashioned static pricing revenue model, which required fixing the prices of all categories for a predetermined period of time either based on category or season and with no proactive price changes.”