Price variation describes the fluctuation or change in the prices of products or services offered by retailers. It occurs due to various factors such as supply and demand dynamics, competition, market conditions, and external influences like inflation or changes in production costs.
Price variations can occur on a daily, seasonal, or even hourly basis. Retailers may adjust prices based on factors like inventory levels, promotional strategies, customer preferences, or changes in the overall market. Price variation plays a crucial role in retail as it affects consumer behavior, profitability, and competitiveness.