Manjeet Rege shared insight on how consumer data may influence pricing and how shoppers can protect themselves.
Minnesota Bill to Ban Surveillance Pricing
Manjeet Rege, director of the Center for Applied Artificial Intelligence at the University of St. Thomas, commented on a proposed Minnesota bill that seeks to prohibit grocery stores from using consumer data to implement individualized, dynamic pricing, a practice raising significant consumer concerns.
Impact of Data Collection on Pricing Strategies
Rege explained how the collection of consumer data is utilized by retailers to inform their pricing strategies. This data allows stores to tailor prices to individual shoppers, potentially leading to varied costs for the same product among different consumers.
Consumer Protection Measures
To mitigate the risks associated with surveillance pricing, Rege provided actionable advice for consumers. He recommended limiting the use of loyalty apps, checking out as a guest for online purchases, regularly clearing browser cookies, using incognito browsing modes, and consistently comparing prices across different retailers. He also advised skepticism towards personalized offers, as they may prioritize the store's benefit over the consumer's.
