Is Dynamic Pricing Brain Rot?

Oxford's "Word of the Year" for 2024 is...drumroll...

Brain rot.

Guess what the runner-up word is? You'll never guess.

It's "Dynamic Pricing."

Uh-oh. Should I be offended or flattered? 🤔 That's what I do for STR property managers on a daily basis lol.

Apparently, it was chosen because "this year has seen a heightened awareness of - and controversy over - [dynamic pricing's] use."

I feel like people already expect to pay different rates at different times for vacation rentals. There are definitely many industries that could theoretically take advantage of dynamic pricing, but haven't yet because people might get mad.

Like how some fast food chains are now implementing dynamic pricing - your Big Mac may cost more if you buy it during rush hour than if you were to buy it at midnight. I haven't specifically noticed this happen to me but I'd be frustrated if it did.

But why are vacation rentals different? Why are people okay if the price fluctuates according to demand? Thoughts?

Source: https://corp.oup.com/word-of-the-year/