File this one under ‘Duh.’ Graeme McClean:
Have you ever searched for a product online in the morning and gone back to look at it again in the evening only to find the price has changed?
That happens to me all the time; especially on Amazon. So, I leave things in my cart or Save For Later until the prices go down.
Pricing algorithms are most often conducting these activities and setting the price of products within the digital environment. What’s more, these algorithms may effectively be colluding in a way that’s bad for consumers.
As noted; ‘Duh.’