What is dynamic pricing and could it impact your grocery bill?
Maryland is poised to be the first state to ban dynamic pricing in grocery stores, a practice that adjusts prices based on demand and other factors. Retailers like Walmart, Kroger, and Whole Foods are already using digital shelf labels, but claim they don't enable surge pricing or track customers.
A bill passed in Maryland aims to prevent dynamic pricing in grocery stores, where prices are adjusted based on demand and other factors. Dynamic pricing is used in hotels, rideshare apps, and flight-booking sites, but its use in grocery stores is raising concerns. Retailers like Walmart, Kroger, and Whole Foods are using digital shelf labels, which they claim are more accurate and don't enable surge pricing. Walmart has rolled out digital shelf labels to over 2,000 stores, saying prices remain stable and consistent during the day. The National Retail Federation argues that electronic shelf tags enhance customer trust and don't track customers or collect personal data. Maryland's bill is part of Governor Wes Moore's legislative agenda, focusing on retailers' use of technology to change prices.
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