BeepDynamic pricing could be coming to your local supermarket
ObiniceIs anybody acting like this is new? Shops relabel stuff with price changes regularly, this just makes it quicker and easier - staff don’t have to run around for a hour with a price gun and a bunch of shelf labels any more.
Improving how we display prices isn’t the issue, that’s a good move, it’s how prices are decided that are the problem.
buddascrayonI agree that the technology isn’t the problem here. It’s the corporate mentality of trying to squeeze customers for all they are worth on a personal basis that is the big issue. That and surge pricing should be made illegal. Having to pay more for a thing just because a flock of other people decide to get it at the same time you do is absurd.
Well but r/n you can’t adjust the price of butter 3x a day.
(maybe you can but it’s stuff u don’t see. With this tech, I’d be worried they’ll change the price multiple times a day to minimize my wallet)
This IS potentially new as some of the plans involve using facial tracking from security cameras to identify customers and analyze them for their net worth so they can set prices to specific customers, rather than setting prices to specific situations. Also, anything that makes price gouging easier and easier to cover up is bad.
How would that work? I go to a shop and I know the price of what they are selling. It is not so easy to rapidly change prices without people noticing. There may be variations on vegetables, fish and meat according to availability but everything else has a clear price.
Some products do have some seasonality or good and bad years but when I go to the shop I’ll mostly be accounting for those.
It would be quite strange to go to the shop one day and buy something for 5€, the following time for 6€ and another time for 4€. You see, if I know this system is in place I will just not buy it whenever it is at an higher price.
Moreover, changing prices while shopping is probably illegal. I am not sure about this, but I believe in Europe large shops are obligated to clearly state the price for every product. By changing the price several times per hour I do not think that would comply with such regulations.
While personalised pricing itself may be legal, and I’m not sure it is, changing the stated prices while people are shopping probably isn’t.
Besides, when I check out how will they charge me? This is 6€, no it was 5€ yesterday, you see the price changed to 6 while you were walking in front of it but it now is at 4€.
Easy, replace all price tags with qr codes that you scan with your phone. Then they can make the price whatever they want for whomever they want individually. More realistically they will use an categorization AI to put people into rulesets which set their prices.
Here is a great video to illustrate and educate: m.youtube.com/shorts/acpd3UXQdmw
And an article to back it up: fool.com/…/walmart-rolls-out-digital-pricing-coul…
