FTC Proposes Personalized Pricing Disclosure
Growing graph with shopping cart on top, could illustrate concepts around how inflation is hitting the regular consumers and grocery bills
The Federal Trade Commission has released a proposal seeking public comment on policies regarding personalized pricing. The agency defines this practice as using personal data to set prices based on an individual consumer’s estimated willingness to pay. FTC Chairman Andrew Ferguson stated that businesses failing to disclose how personal data is used to determine prices could violate the FTC Act.
The agency issued this proposal on Wednesday.
