Lecture at the FH Graubünden: Dynamic Pricing at Swiss mountain railways
Just before the winter season, the topic of Dynamic Pricing for Swiss mountain railways is once again heatedly discussed.
This not only in the industry itself, but also by research, universities and prospective tourism professionals. As key speaker Pricenow designed the DSS lecture of the University of Applied Sciences Graubünden on 26th of September on the topic “Dynamic Pricing and Data Analytics – First Insights into a new era for Mountain Railways”.
With 220 listeners, the auditorium of the University of Applied Sciences Graubünden was filled to capacity for Pricenow’s guest lecture. A new record high for the Distinguished Speaker Series, which is regularly organised by the University of Applied Sciences Grisons and provides a platform for “the most innovative and out-of-the-box thinking guest speakers from the tourism industry”. In front of a knowledge-hungry audience full of up-and-coming talents, Pricenow debated the topic of Dynamic Pricing and Data Analytics in the mountain railway sector together with prospective tourism managers and lecturers.
Together with David Wyssen (CEO, Sportbahnen Bellwald), first of all the current challenges of the mountain railway industry were taken up and then possible solutions using dynamic pricing and data analytics were shown.
It could be emphasized that dynamic pricing is only one possible form of price differentiation and that the price management of a mountain railway should be viewed holistically. In addition, the hosts and Pricenow agreed that the topic of customer knowledge and data analytics will cover at least an equally important aspect of future industry development. David Wyssen was able to provide exciting insights into the results of the last winter season: dynamic prices enabled the online share of ski ticket bookings to be increased from 0% to almost 30% within one winter season, while at the same time significantly increasing the average yield for various product categories. Wyssen and Bellwald Sportbahnen AG have now successfully applied the customer knowledge they have generated to innovative digitization and marketing measures.
We were overwhelmed by the number of interested students and lecturers, who encouraged discussions with exciting questions. However, all participants agreed on one point: with the new technologies in the field of pricing and data analytics a new era will dawn for mountain railways.