The actual going price of an item, as opposed to the manufacturer's suggested retail price. Since the MSRP is (usually) applied across broad regions, and determined by the manufacturer, it cannot react fast enough to market conditions. As supply and demand are dynamic, so must be the price. A retailer can usually react faster to these changes, resulting in a variation of prices among various retailers.

The street price can therefore be either the lowest of all prices, the average of prices, or the median of prices.

The "street" in street price has more bearing when applied to brick-and-mortar retailers. However, the speed at which information travels on the internet has impacted how prices fluctuate tremendously. With the aid of price search engines, consumers can easily find the lowest prices. The retailers, in turn, are willing to decrease their margin in return for more sales. The dynamics at work here are much faster than most traditional retailers.

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