Planet Money Is dynamic pricing coming to a supermarket near you?
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Mar 6, 2024 Dynamic pricing is shaking up traditional grocery pricing, calling into question why all milk costs the same despite varying sell-by dates. Experts explore the potential benefits of flexible pricing to reduce food waste and improve customer satisfaction. With innovative tools like electronic shelf labels emerging, supermarkets may soon catch up with tech-driven industries like airlines. The idea raises fascinating challenges, from inventory accuracy to consumer perceptions. Could this pricing revolution change how we shop at our favorite stores?
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Milk Price Discrepancy
- Amanda Aronczyk noticed two gallons of milk with different sell-by dates had the same price.
- This sparked a discussion about the seemingly illogical pricing of groceries.
History of Food Pricing
- Haggling over food prices was common practice for centuries.
- Fixed price tags emerged around 1870, eliminating individual bargaining.
Static Pricing in Supermarkets
- Supermarkets use static pricing for various products, regardless of their shelf life.
- This applies to perishable items like lettuce and non-perishables like salt or Twinkies.