Personalized pricing. Prices based on personal data.

[WhatInThe]

Many companies are now using algorithms and personal data to determine prices one might pay especially online.

https://www.scrippsnews.com/life/mo...how-your-data-could-dictate-the-price-you-pay

I know the prices fluctuate have seen them drop on the same page by the end of an hour sometimes hoping to make one make an impulse buy.

But these schemes are a risk to consumers because a company could become reliant on customers who don't pay attention and can pay any price but also could drag down lousy consumers who can't afford what they are buying. Don't need basic goods like the same tv set or a tool being different prices for different customers. It's sort of like the same medical procedure paid by different insurance companies have different pricing.

It comes back to the consumer knowing the product & market and not buying on impulse or desire but a budget.

 

[Oldeagle66]

I've also noticed that on web homepages. My yahoo is completely different from my friends. His ads were completely different.

 

[Trade]

Big Corporate is Watching You.

 

[Aunt Bea]

The vendors at the local flea market have been doing that for years.

It will be interesting to see how this goes in the years ahead.

Surge pricing during time of high demand and drastic reductions at times to flush out excess inventory, or reductions for appointments based on limited open time slots, etc…

We have some of that now with searching for bargains in travel and entertainment, early bird specials or midweek specials in restaurants.

Another thing that we all need to be aware of and factor in to our daily lives.

 

[Nathan]

Big Corporate is Watching You.

The spying is getting more subtle but sophisticated every day. Yesterday I took a picture with my phone of an item at the grocery store for price comparison with one I have in my shopping cart on Amazon. All of a sudden- the price increased by $6 for the shopping cart item. It was still cheaper than the grocery store item, but they closed up the savings to a minimum.

 

[MoBeans]

This is the kind of thing that the profiles that have been compiled on everyone by Lexus Nexus and other big data brokers are being used for..

 

[hollydolly]

The spying is getting more subtle but sophisticated every day. Yesterday I took a picture with my phone of an item at the grocery store for price comparison with one I have in my shopping cart on Amazon. All of a sudden- the price increased by $6 for the shopping cart item. It was still cheaper than the grocery store item, but they closed up the savings to a minimum.

if that happens again, and you still want th item, log out of your amazon account and log in using a different browser....you'll get your original price.