The price you pay for a product may depend not just on demand, but on what companies know about you.
Surveillance pricing is a growing practice nationwide, where businesses use individualized prices to maximize profits, based on calculations about what the consumer is willing to pay.
Companies such as JetBlue and Instacart are under the microscope for use of surveillance pricing, even as legislation is moving through state lawmakers’ hands to halt the practice.
Here’s what to know about how surveillance pricing works.
What Is Surveillance Pricing?
A July order by the Federal Trade Commission (FTC) compelled eight companies, including Mastercard, JPMorgan Chase, and Accenture, to provide documents about how retailers used surveillance pricing tools….