Here's a detailed explanation of how Price Freezer works:

Price Freezer Workflow

1. Product Selection: Customer selects a product/service on the website/app.
2. Price Freezer Option: Customer clicks the "Price Freezer" button/checkbox.
3. Price Lock: Current price is locked for a specified period (e.g., 30 days).
4. Price Freeze Confirmation: Customer receives confirmation of price freeze.
5. Price Monitoring: System tracks price changes.
6. Price Adjustment: If price drops, customer pays lower price.
7. Price Cap: If price rises, customer pays locked-in price.
8. Expiration: Price freeze expires after set period.

Technical Requirements

1. Data Analytics: Real-time price tracking.
2. API Integration: Connectivity with suppliers/pricing engines.
3. Secure Payment Processing: Protection for customer transactions.
4. User-Friendly Interface: Easy price freeze management.
5. Inventory Management: Real-time stock updates.

Price Freezer Types

1. Fixed Price Freezer: Locks price for specified period.
2. Dynamic Price Freezer: Adjusts price based on market fluctuations.
3. Price Cap Freezer: Limits price increase to set percentage.

Benefits

1. Price Stability: Protection from price volatility.
2. Budget Predictability: Accurate cost forecasting.
3. Increased Customer Loyalty: Enhanced shopping experience.
4. Competitive Advantage: Differentiation from competitors.
5. Simplified Pricing Strategy: Streamlined pricing management.

Challenges

1. Inventory Management: Real-time stock updates.
2. Price Volatility Risks: Managing price fluctuations.
3. Customer Expectations: Clear communication.
4. Integration: Seamless integration with existing systems.
5. Regulatory Compliance: Adherence to pricing regulations.

Real-World Examples

1. Amazon's Price Match Guarantee
2. Walmart's Price Match Policy
3. Expedia's Price Guarantee
4. Costco's Price Protection
5. Target's Price Match Policy

Business Models

1. Subscription-based: Monthly/annual fees.
2. Commission-based: Percentage of sales.
3. Fee-per-Transaction: Charge per price freeze.
4. Advertising Revenue: Targeted ads.
5. Partnerships: Collaborations with suppliers.