Comment on Amazon reportedly used a secret algorithm to jack up prices
EditsHisComments@lemmy.world 1 year agoMost companies that sell products do this in some form. The only thing that’s secret about it is the particular process and code, since that’s confidential company info.
A few years ago I remember speaking with a Walmart manager about this sort of thing, and they mentioned how their site would receive price updates after their volume, revenue, staffing, supply chain logistics to their site, etc., were analyzed. Admittedly, I don’t know if they had real analysts or machine learning, or a mix of the two (likely both, since it was 5 or 6 years ago).
A key point to this is that most businesses selling things buy most of their products from suppliers, who have their own pricing mechanisms - which causes downstream businesses to adjust accordingly.
phx@lemmy.world 1 year ago
We’ll see it down to the minute in B&M storefronts soon as well. The local Superstore and Walmart already have digital price tags on shelves. Milk could go up $0.50/L between the time you grab it off the shelf and then finish shopping to hit the checkout.
A bunch of people buying cookies? Oh, better raise that price by $1.50/box
ShaggySnacks@lemmy.myserv.one 1 year ago
That sounds extremely problematic for consumers when the price can be change so easily. I would be hesitant to buy anything from there knowing that I may spend a lot more money from picking the item of the shelf and the cash register.
phx@lemmy.world 1 year ago
Yeah it’s one of those things that needs to be stopped - preferably by legislation - yesterday. And you won’t have any choice not to shop they’re because everyone is starting to do it
ComradeBunnie@aussie.zone 1 year ago
I have a feeling that wouldn’t be legal.
When I had to change price tickets, from memory, the lower prices went into effect that morning, but any price increases wouldn’t go into effect until the next day?
The customer always receives the lower price, and I didn’t get screamed at when I hopped back on the cash register.
phx@lemmy.world 1 year ago
I wouldn’t be surprised if there’s no specific law for that, and that most stores did price updates in early/after hours to avoid foot traffic while open. Some place I know generally did it while stocking
I’m pretty sure I’ve actually seen those tickets flashing while I was shopping.