FTC Investigates How Stores Use Your Data to Set Prices
The FTC ordered major brands to explain how they use personal data to set different prices for shoppers.
Imagine two people buying the exact same plane ticket. One person pays fifty dollars more because of their browsing history. Federal watchdogs want to know if big companies do this to everyday shoppers.
The Federal Trade Commission sent formal orders to nine major corporations. The target list includes Delta and Walmart. Officials call this tactic surveillance pricing. Companies gather details about your income and shopping habits. Then computer programs decide the highest price you will accept.
Regulators demand clear answers from these companies. They ordered the firms to explain their pricing formulas and share internal data. The agency plans to show how these practices affect shoppers nationwide.
Clear prices help families protect their money. Compare prices across different browsers to protect your wallet. Checking offers on a second device helps you find the lowest price.
Source: Fox Business
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