The science behind Black Friday and Cyber Monday pricing

November 12, 2016, 1:46 AM By Ian Swanson CEO, DataScience How e-retailers like Amazon use data to project sales and set prices. If you’ve ever wondered how online retailers can afford to sell off their inventory for rock-bottom prices in the days following Thanksgiving, the answer to that question now primarily lies in the data those retailers are collecting every time you shop. Retailers have long relied on historical sales data to help create discounting strategies. If sales are not on track to meet or beat the previous year’s numbers, retailers will often offload slow-moving inventory by dropping the price, either to directly undercut competitors’ advertised rates or appeal to buyers who might balk at the cost of the latest product update but purchase a heavily discounted last-season model. However,…

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