"Dynamic pricing is basically changing prices based on market conditions over time. So, that means the supplier that you're looking at might look at the supply of what they have to offer and what the demand is."
"If you are booking online, try to book early to get the less popular times for booking. You can also try shopping midweek. So, Tuesdays and Wednesdays are better than shopping on the weekend, which is more popular."
"State leaders in Maryland announced and eventually passed legislation banning the practice at grocery stores and related services. Other states are considering doing the same thing."
Dynamic pricing involves changing prices based on market conditions, demand, and supply. Ride-share apps commonly use this practice, adjusting prices for popular routes. Walmart plans to implement digital shelf labels, potentially introducing dynamic pricing in physical stores. Consumers can avoid higher prices by booking early, shopping midweek, or using price trackers. Some states, like Maryland, have enacted legislation to ban dynamic pricing in grocery stores, with others considering similar measures.
Read at ABC7 Los Angeles
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