"When New Yorkers place an order online or go to the grocery store, they should be able to trust that they are seeing the same prices as everyone else, not an individualized price set by an algorithm. At a time when New Yorkers are already facing higher prices everywhere they look, we must use every tool available to us to protect New Yorkers and keep costs down."
"Companies that use algorithmic pricing collect data from customers based on their purchases, along with the timing of their paycheck and benefits receipt, and even how long they hover over a product online. The collected data is then plugged into pricing algorithms that continuously update to estimate the highest price a consumer is likely willing to pay at any given moment."
"The attorney general's office stated that a recent study involving hundreds of shoppers ordering groceries online found that 74% of grocery items were offered at multiple prices. Some items are offered at up to 5 different prices simultaneously."
New York Attorney General Letitia James is advocating for the One Fair Price Package, a set of two bills designed to prevent companies from using algorithmic pricing to charge different prices to individual consumers. Algorithmic pricing, also called surveillance pricing, allows companies to collect personal data about customers—including purchase history, payment timing, and online browsing behavior—and use that information to set individualized prices. A recent study found that 74% of grocery items were offered at multiple prices simultaneously, with some items having up to 5 different price points. James argues that consumers deserve transparent, uniform pricing when shopping online or in stores, and that such legislation is necessary to protect New Yorkers from unfair price increases during a time of rising costs.
Read at www.amny.com
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