Repriced Meaning: Definition, Examples, and Translations
๐ฒ
repriced
[rษชหpraษชst ]
Definition
business context
Repriced refers to the action of changing the price of a product or service. This can occur due to various reasons, including market fluctuations, changes in demand or supply, or adjustments for competitive pricing. Companies may reprice their offerings to enhance profitability or to attract consumers. It is a common practice in retail and financial markets to stay competitive.
Synonyms
adjusted, altered, marked down.
Examples of usage
- The company repriced its products to match the competition.
- After evaluating market trends, they decided to reprice their services.
- The discount season prompted many retailers to repriced their inventories.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Economics
- Repricing is often used during sales promotions to attract customers and clear stock.
- In finance, assets are repriced to reflect market conditions, which can impact investment strategies.
Technology
- E-commerce platforms utilize algorithms for real-time repricing based on competitor pricing and market demand.
- Tech-driven pricing strategies enable businesses to automatically adjust prices in response to consumer behavior and inventory levels.
Psychology
- Consumers often perceive items as better deals when they see repriced items marked down from their original prices.
- Repricing can influence buying decisions by creating a sense of urgency, as shoppers may fear that the deal won't last long.
Business Practices
- Retailers regularly reprice items as part of inventory management to maintain competitiveness in the market.
- Repricing strategies can vary widely based on seasonal changes, product lifecycle, and shifts in consumer demand.
Origin of 'repriced'
Main points about word origin
- The word 'reprice' is formed by adding the prefix 're-' (meaning again) to 'price', which originates from the Latin word 'pretium', meaning value or cost.
- The concept of repricing has evolved with commerce, primarily used in the context of retail and finance.
The term 'repriced' is derived from the prefix 're-' meaning 'again' and 'price,' which originates from the Latin word 'pretium,' indicating value or worth. The concept of pricing has evolved through commerce and trade, where setting a price is essential for transactions. In modern economics, repricing has become crucial for businesses to remain viable and responsive to market conditions. The practice of repricing can be traced back several centuries, as merchants and traders always needed to adjust their prices based on supply and demand fluctuations, competitor pricing strategies, and changes in consumer preferences. With the advent of digital commerce, repricing has become more dynamic, leveraging algorithms and real-time data to adjust prices frequently.