Gasoline prices, as I’m sure you’ve noticed, routinely change, sometimes in a matter of hours given the instability of the oil supply as arbitrarily judged by global futures markets.
It’s like every gas station gets a memo at the same time to raise their prices by the same amount.
This is digital pricing as it relates to just-in-time inventory schemes.
But what if digital pricing is invading all of our retail purchases, starting with the nation’s two largest grocery-store chains – Walmart and Kroger?
Get ready, because that’s exactly what is in the works.
Walmart is now capable of setting the price of every one of its tens of thousands of store items to match the highest price a specific customer is willing and able to pay.
Based on its data collection and the ability of its many in-store cameras to read customers’ emotions, Walmart, with the help of AI, knows whether or not a specific customer can afford to purchase any specific item in its storewide system. It uses personal data on each c…
