FILE: The FTC is seeking to crack down on so-called personalized pricing. (Photo Illustration by Matt Cardy/Getty Images)
\n\nCompanies that engage in a practice known as personalized pricing could face federal charges under a new rule proposed by the Federal Trade Commission.
\n\nThe new policy was released Wednesday. Here’s what to know:
\n\nPersonalized pricing is the practice of secretly varying prices based on how much companies think individual customers will pay. In a preliminary report filed last year, the FTC found that grocers, clothing companies and others were using third-party companies to help them individualize online prices based on shoppers’ locations, browsing histories and other factors, including how long they left items in their virtual shopping carts.
\n\nIn one hypothetical example, the FTC said a consumer profiled as a new parent might be shown higher-priced baby thermometers on the first page of their search results.
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\n\nThe FTC has been eyeing personalized pricing for several years.
\n\n"When consumers see a listed price, they expect it to be (the) same price that everyone else sees, not the retailer’s estimate of how much they are willing to pay based on…
Original source: https://www.livenowfox.com/money
