FloorGenAdm · 51-55, M
Don't they already have laws against that sort of thing? 📚
DeWayfarer · 61-69, M
SunSetStrut · 46-50
Does that mean people like me, who bargain hunt as a lifelong habit, end up paying less?
I am so cheap that I take my own sodas to a restaurant when I dine out.
Or when I want something, I say, "It will eventually show up real cheap on FB MP or Goodwill."
I am so cheap that I take my own sodas to a restaurant when I dine out.
Or when I want something, I say, "It will eventually show up real cheap on FB MP or Goodwill."
Virgo79 · 61-69, M
Were living in a screwed up world
DeWayfarer · 61-69, M
@ArishMell
Overview of Surveillance Pricing
Surveillance pricing is a dynamic pricing strategy where retailers use personal data to set individualized prices for consumers. This practice can lead to different prices for the same product based on a consumer's characteristics, behaviors, and preferences.
Key Features
° Data Utilization: Retailers analyze personal information such as location, browsing history, and shopping habits to determine how much a consumer is willing to pay.
° Price Discrimination: This method can result in consumers paying varying amounts for identical items, often based on inferred financial status or urgency.
° Technological Basis: Advances in artificial intelligence and data analytics enable companies to implement surveillance pricing effectively.
Regulatory Landscape
Recent Developments
FTC Involvement: The Federal Trade Commission (FTC) has begun investigating surveillance pricing practices. They have issued requests for information from companies that provide surveillance pricing tools, including major firms like Mastercard and JPMorgan Chase.
° Legislation: Some states, such as New York, have enacted laws requiring businesses to disclose when prices are set using personal data. The New York Algorithmic Pricing Disclosure Act mandates clear notifications to consumers.
Local Regulations
° Seattle Ordinance: Seattle has become the first U.S. city to ban algorithmic grocery surveillance pricing, preventing retailers from using personal data to set individualized prices. This ordinance aims to ensure transparent pricing for all consumers.
Consumer Impact
Concerns and Criticism
° Privacy Issues: Surveillance pricing raises significant privacy concerns, as it relies on extensive data collection and analysis of consumer behavior.
° Discrimination Risks: There are fears that this pricing strategy may disproportionately affect marginalized groups, leading to unfair pricing practices.
° Consumer Sentiment: Surveys indicate that a majority of consumers oppose surveillance pricing, viewing it as unfair and invasive.
Conclusion
Surveillance pricing represents a growing trend in retail that leverages personal data for pricing strategies. While it offers potential benefits for businesses, it raises critical ethical and regulatory questions regarding consumer privacy and fairness.
Surveillance pricing is a dynamic pricing strategy where retailers use personal data to set individualized prices for consumers. This practice can lead to different prices for the same product based on a consumer's characteristics, behaviors, and preferences.
Key Features
° Data Utilization: Retailers analyze personal information such as location, browsing history, and shopping habits to determine how much a consumer is willing to pay.
° Price Discrimination: This method can result in consumers paying varying amounts for identical items, often based on inferred financial status or urgency.
° Technological Basis: Advances in artificial intelligence and data analytics enable companies to implement surveillance pricing effectively.
Regulatory Landscape
Recent Developments
FTC Involvement: The Federal Trade Commission (FTC) has begun investigating surveillance pricing practices. They have issued requests for information from companies that provide surveillance pricing tools, including major firms like Mastercard and JPMorgan Chase.
° Legislation: Some states, such as New York, have enacted laws requiring businesses to disclose when prices are set using personal data. The New York Algorithmic Pricing Disclosure Act mandates clear notifications to consumers.
Local Regulations
° Seattle Ordinance: Seattle has become the first U.S. city to ban algorithmic grocery surveillance pricing, preventing retailers from using personal data to set individualized prices. This ordinance aims to ensure transparent pricing for all consumers.
Consumer Impact
Concerns and Criticism
° Privacy Issues: Surveillance pricing raises significant privacy concerns, as it relies on extensive data collection and analysis of consumer behavior.
° Discrimination Risks: There are fears that this pricing strategy may disproportionately affect marginalized groups, leading to unfair pricing practices.
° Consumer Sentiment: Surveys indicate that a majority of consumers oppose surveillance pricing, viewing it as unfair and invasive.
Conclusion
Surveillance pricing represents a growing trend in retail that leverages personal data for pricing strategies. While it offers potential benefits for businesses, it raises critical ethical and regulatory questions regarding consumer privacy and fairness.
DeWayfarer · 61-69, M
Known about it for a long, long time. And I have taken certain measures to thwart it to a certain degree.
There's only so much anyone can do against such shenanigans. 🤬
Yet a 200 mile radius can confuse a local price issue.
As far as they are concerned I travel a lot when I really don't! 😆
There's only so much anyone can do against such shenanigans. 🤬
Yet a 200 mile radius can confuse a local price issue.
As far as they are concerned I travel a lot when I really don't! 😆
GoFish ·
well most people don't work for free.. who or what are you spying on and why?
meJess · F
Not price gouging, but cartel practices.