Gadgetory

thanks for watching tech wiki click the subscribe button and enable notifications with the bell icon so you won't miss any future videos did you ever set up a lemonade stand during the summer and come to the realization that you might sell more lemonade if you knock a bit off the price in the evening when it isn't quite so sweltering hot assuming that is that the cops didn't shut you down for the heinous crime of selling flavored water without a permit well if so congratulations you essentially did the same thing that amazon does every day obvious they do it on a much bigger scale now the exact formulas are treated as closely guarded trade secrets so we're gonna be relying on some pretty good third-party analysis of the sophisticated mechanisms that Amazon uses to make millions of changes per day to the pricing of the items on its site and some individual items even get more than one price change in a single day first up obviously Amazon sometimes raises prices when items are in high demand that's simple enough to track through orders and pageviews but their whole strategy is far more nuanced on super popular items that sell like hotcakes Amazon's algorithms keep an eye on what they're selling for on other sites and then tweak the price to undercut the competition not only does this lead to more sales of that specific item but it has some great ancillary benefits for Amazon as well one is because Amazon has used this tactic for such a long time they've cemented themselves in the minds of many consumers as the place to go for the best deals dramatically increasing site traffic and once the customer has been trained to not bother to look elsewhere Amazon can then strategically increase the price of items that a customer might want to order together for example if it's summer you might find a great deal on a grill but things like spatulas and brushes and cheesy novelty aprons might actually be more expensive on Amazon as the algorithm figures that people would rather simplify their lives by shopping in one place rather than spend time looking around to save a few bucks on their propane and propane accessories it's Amazon's mostly online presence that allows them the flexibility to make these kinds of changes on the fly stores that have both online shops and brick-and-mortar retail locations like Best Buy or Walmart simply don't have the resources to adjust prices so aggressively can you imagine being the guy who has to change all those little price stickers every hour all day Amazon also uses complex algorithms to determine which price you'll see when there are multiple sellers for an item through Amazon Marketplace their service that allows third parties to list items on their site now as you can imagine Amazon generally gives preference to products its selling directly but the algorithm also considers how much more expensive one seller is than another how highly rated and popular the seller is how often the seller generates returns and whether Amazon itself handles the shipping they consider all that before showing you a price which attempts to draw you in by offering a cheap deal from a reputable seller of course as much computing muscle as Amazon has to crunch all these numbers that doesn't mean that they've totally mastered the art of perfect pricing on over a half billion items for example they famously listed a used textbook for 23 million dollars back in 2011 although come to think of it looking at the prices at the campus bookstore lately that might not actually be that far off what are you looking for something that isn't overpriced then checkout private Internet access VPN not only does p.i a working up to five devices at once by hiding your true IP address and allowing you to bypass geo restrictions and censorship by making you appear that you're connecting from somewhere else it also blocks unwanted connections to help prevent attacks Auto blocks all traffic if the VPN disconnects keep to your data out of the hands of advertisers and other snoops or tracking your activity prevents DNS leaks and even includes mace P is built-in malware blocker PIAA supports multiple VPN protocols and encryption levels allowing you to dial in the exact level of protection that you need they have apps for Windows Mac Android iOS Linux and even a Chrome extension with support for more platforms coming soon incredibly and P ia has over 3000 service in 28 countries and does not log user activity so what are you waiting for check them out today at the link below so thanks for watching guys if you have an idea for an upcoming episode or subject you want us to cover let us know in the comments hit the bell icon wherever that does like dislike whatever come back and watch again next time thanks