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'We price the product, not the person'
New York Post • • business
Key Points:
- Walmart CEO John Furner publicly rejected the use of dynamic pricing, surveillance pricing, or personalized pricing, emphasizing that the company prices products, not individuals.
- The retailer's rollout of electronic shelf labels (ESLs) sparked accusations that prices could change in real time based on personal data or market factors, raising shopper concerns about fairness and transparency.
- Furner pledged that Walmart will not vary prices based on customers' income, shopping history, or urgency, and assured that personal data collected through tools like the AI assistant Sparky will not be used to manipulate prices.
- The announcement follows scrutiny from shoppers and the Federal Trade Commission, which warned retailers about personalized pricing practices and proposed regulations for greater disclosure.
- Despite conspiracy fears about ESLs using facial recognition, no evidence supports these claims, though some customers reported instances of price changes that were successfully contested at checkout.
