Artificial Intelligence: The Secret Behind Personalized Retail Pricing

Tuesday, 9 July 2024, 09:52
Discover how retailers leverage AI to adjust prices according to customers' individual characteristics such as age, mood, and more. Uncover the implications of personalized pricing and how it impacts consumers. Consider the ethical concerns raised by the use of AI in setting prices and its implications on consumer behavior.
Business Insider
Artificial Intelligence: The Secret Behind Personalized Retail Pricing

AI in Retail Pricing

Retailers are utilizing AI technology to tailor prices based on customer demographics like age, mood, and sexual orientation.

Personalized Strategies

The use of AI in pricing leads to individualized offers targeted at specific customers.

Ethical Considerations

  • Privacy concerns arise with personalized pricing.
  • Impact on consumer trust and behavior.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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