The state of New York has launched new disclosure requirements for businesses that use your personal data and history to charge you more. I applaud this start. The idea of charging any class of people more because they can afford it, or more because they need essentials, or less in either case, is unconscionable. I’ve talked about personalized pricing in the past, and it’s becoming more clear that it is predatory pricing, choosing who gets a price cut, or boost, for no other reason than who they are, or where they live, or how much they make. This practice is showing up everywhere and it’s rude. Where I am saddened, is that more agencies and states aren’t showing up and enforcing pricing standards and laws across the board. New York only requires that you see a little note that says (in my own translation)… “you may pay more because you can’t afford to shop elsewhere” or “you may pay more because you live in a mansion”.
Businesses that use personalized pricing are now required to tell customers, “This price was set by an algorithm using your personal data.”
Source: New York state law takes aim at personalized pricing | TechCrunch
