Beyond Dynamic Pricing Models

VaughanJB

Scrappy VIP
So.

I was reading today about electronic price tags in supermarkets.

In simple terms, we're used to paper tags, and a paper tag on the shelf telling us the price of products.

These paper tags are being replaced by electronic tags. These are small "screens" that give the price. The new tags allow prices to be raised, and lowered, centrally, without someone going out to retag everything. Good so far?

Well these electronic tags also mean stores can indulge in dynamic pricing. That is, when a product is selling particularly well, the store can increase the price auto-magically. This means, one person buying at 13:00pm might be priced differently than someone buying at 13:01pm.

Even accepting this, I was surprised at the new development. I was reading about pricing being tied to phone data. That is, the tag detects your phone, ties it into your past purchases, and knows what your favorite items are. It will increase the prices of those items. It'll tie into past purchases you've made.

I was surprised, but that shows my ignorance. OF COURSE this will be a thing. Buying groceries in the future will be very, very, different.

Thoughts?
 
I‘ve heard of this and am not sure how it would work. I suppose they’ll get rid of our newspaper flyers or maybe just keep these limited prices static for a week.
 
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