You might soon notice a change at your local Walmart. The chain is the latest to announce an impending switch to electronic shelf pricing and moving away from price stickers. With these new labels, store workers will “be able to change prices as often as every ten seconds.” Grocery industry analyst Phil Lempert says this could end up bad…or good…for shoppers, depending on circumstances. He says, “If it’s hot outside, we can raise the price of water and ice cream. If there’s something that’s close to an expiration date, we can lower the price.” This is leading some to express concerns that it could lead to a “surge pricing” strategy, which typically doesn’t benefit consumers. Just ask Wendy’s how it worked out for them, when the mere mention of it brought consumer wrath from everywhere on social media.
Source: NPR