Skip to content

942 THE FUTURE OF PRICING

Last week, the news that Wendy’s, the well-known hamburger chain, is contemplating implementing AI-driven surge pricing akin to Uber’s model stirred quite a discussion. This concept involves adjusting prices in real time based on demand, time of day, and other factors. This approach isn’t new; it’s been utilized in industries like airlines and hotels for decades through sophisticated revenue management systems that consider countless variables to set the optimal price at any given moment. However, this model is increasingly permeating everyday consumer experiences, from fast food to retail stores like Kohl’s, which uses LCD panels for dynamic pricing. The technology allows for incredible customization and efficiency for businesses, ensuring prices are always set at a point where they’re profitable yet attractive to consumers. Yet, this presents a significant challenge for consumers who lack the tools to navigate this complex pricing landscape, potentially leading to a future where prices could vary for each individual based on personal data, including income or even demographics. While beneficial for companies, this raises questions about fairness and accessibility for consumers.

video

audio

don't miss a single episode!

thinkfuture

ai startups and the future

we don’t spam!

5 1 vote
Article Rating
Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x