[ad_1]
Norwegian supermarket chain REMA 1000 uses dynamic pricing for all items in its stores, including Kvikk Lunsj chocolate bars and Solo soda.
Jessica Robinson/NPR
Hide title
Toggle Title
Jessica Robinson/NPR
Norwegian supermarket chain REMA 1000 uses dynamic pricing for all items in its stores, including Kvikk Lunsj chocolate bars and Solo soda.
Jessica Robinson/NPR
Dynamic pricing is an increasingly common phenomenon: Uber fares increase during rainy daysor when You book a flight at the last minute or Buy concert tickets for your favorite superstarsWendy’s sparked a minor controversy during last week’s earnings call when it said it would introduce dynamic pricing in its restaurants, but the company quickly clarified that it does not intend to use it for “dynamic pricing“”.
One place where you rarely see dynamic pricing is in American supermarkets.
Why is that? Why shouldn’t the price of meat, bread or produce go down as it ages? Why is all milk the same price in the store, even if the “best before” dates are weeks apart? Wouldn’t a little more flexibility in pricing be better for customers and help reduce waste?
Professors Robert Evan Sanders and Ioannis (Yannis) Stamatopoulus had similar questions, so they set out to investigate what was holding supermarkets back from adopting a more dynamic approach, and what factors might convince them that it was time to change their pricing.
This show is hosted by Amanda Aronczyk and Nick Fountain. Produced by Willa Rubin and edited by Keith Romer. Designed by Valentina Rodríguez Sánchez and fact-checked by Sierra Juarez.
Subscribe to Planet Money+ to help support Planet Money and get bonus episodes In Apple Podcasts or plus.npr.org/planetmoney.
These links are always free: Apple Podcasts, Spotify, Google Podcasts, NPR App Or wherever you get your podcasts.
Find more Planet Money: Facebook / Instagram / Tik Tok / We Weekly communication.
Music: Audio Network – “West Green Road 2” and “Meet Me in the Lobby”; Universal Production Music – “Magic Lizards”
[ad_2]
Source link
