Repriced

To revalue or adjust the price of something, typically to reflect changes in market conditions, cost of production, or other relevant factors. This action involves reassessing the original price and setting a new one, often with the aim of increasing profitability, attracting more customers, or adapting to competitive pressures. Repricing can apply to a wide range of goods and services, from physical products in retail stores to complex financial instruments and subscriptions. It is a dynamic process, requiring constant monitoring of the market and the ability to make swift adjustments. It ensures competitiveness and responsiveness to fluctuations.

Repriced meaning with examples

• The retail chain repriced its inventory of seasonal merchandise, slashing prices by up to 75% to clear out the stock before the new season began. Shoppers benefited from significant savings. The company needed to reduce the backlog of product. They decided to lower costs for the customer to attract more buyers and make space for the next seasons clothing. Their move drew in more customers.
• Due to rising fuel costs and supply chain disruptions, the airline was forced to repriced its flights. Customers were unhappy, but the new ticket prices ensured that the airline could stay in the industry. They had no choice in making the decision and wanted to meet demands for the company and maintain profits. The airline informed the passengers, via email, of the upcoming changes.
• The company repriced its software subscriptions, introducing tiered pricing plans with varying features and functionalities to appeal to a wider customer base. Some clients received cheaper plans. Others saw the price increase to get the best plan. This change allowed for the business to grow and obtain more clients. The customers had more options to choose from for what they required.
• After a thorough market analysis, the real estate agency repriced several properties in its portfolio, adjusting the asking prices to align with recent sales data and market trends. Many properties sold in the first week. Others were priced higher than the buyers would pay. The new market value was decided on the amount to make a profit from selling or leasing the property.