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What is dynamic pricing and could it impact your grocery bill?

The Hill·Addy Bink·6 months ago
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(NEXSTAR) – When shopping, you, most likely, want to pay the same (hopefully low) prices as everyone else shopping at the same time for the same item or experience. Some, however, are concerned that, as technology advances, that won’t be the case.

The practice is known as “dynamic pricing.”

Maryland is poised to be the first state to prevent it from appearing at grocery stores. A bill passed earlier this year, which was part of Governor Wes Moore’s legislative agenda, focuses on retailers’ use of technology to change the prices of goods throughout the day or those shown to different customers.

In a hearing earlier this year, Moore pointed to the expanding use of digital price tags at retailers, in addition to “cameras … watching aisles” and apps transitioning to “curated experiences.”

But should you be concerned?

What is dynamic pricing?

According to the Harvard Business School , dynamic pricing takes into account “evolving market trends,” like inventory, demand, and pricing at competitors, and can be…

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