FTC proposal would require retailers to be transparent about personalized pricing
- Companies that secretly vary prices based on how much they think individual customers will pay could face federal charges under a proposed policy released Wednesday by the Federal Trade Commission.
- "When consumers see a listed price, they expect it to be same price that everyone else sees, not the retailer's estimate of how much they are willing to pay based on their personal data," FTC Chairman Andrew Ferguson said in a statement.
- The FTC has had its eye on personalized pricing for several years.
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- Companies that secretly vary prices based on how much they think individual customers will pay could face federal charges under a proposed policy released Wednesday by the Federal Trade Commission.
- "When consumers see a listed price, they expect it to be same price that everyone else sees, not the retailer's estimate of how much they are willing to pay based on their personal data," FTC Chairman Andrew Ferguson said in a statement.
- The FTC has had its eye on personalized pricing for several years.
Sources: Pbs