Dynamic Pricing Could be Coming to a Supermarket Near You
March 15, 2024 | 1 min to read
Dynamic pricing is emerging in supermarkets, much like in airlines, Uber, and Amazon. With algorithms determining prices, *REMA 1000*, a major Norwegian supermarket, showcases this shift through *Partap Sandhu*, its pricing head, who can alter prices on thousands of items with a tap. This innovative strategy has been in play for over a decade, highlighting the evolving landscape of grocery shopping where even everyday items like milk may be subject to dynamic pricing.
When we think of dynamic pricing, we usually think of airlines, Uber or Amazon quickly changing their prices. But now, dynamic pricing is coming to supermarkets.
More and more, the things we buy are being priced by algorithms. From airline tickets to Uber rides, prices change and your milk might be next. Amanda Aronczyk of NPR’s Planet Money takes us to a store with dynamic pricing.
Partap Sandhu is the head of pricing at a major Norwegian supermarket called REMA 1000. With a tap, he can change the price of any one of thousands of grocery items. REMA has been using dynamic pricing for more than a decade. At the moment, Partap is walking quickly towards the canned food aisle.
To read the rest of the story, please go to: NPR