Surge pricing comes to the supermarket
This is a really interesting article from the Guardian about the rise of dynamic pricing by supermarkets - drawing on the power of big data and ubiquitous mobile technology to personalise prices offered to consumers and move businesses closer to perfect price discrimination.
- Firms have used dynamic pricing for years
- Online retailers are increasingly using your personal data
- How much are you ready to pay? The algorithm knows. Fixed pricing is dying out - but is it fair? Ethical?
- Should businesses who combine cutting edge technology and insights from behavioural economics be subject to tougher scrutiny / regulation?