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Amazon reportedly used a secret algorithm to jack up prices (www.theverge.com)

submitted 11 months ago by ooli@lemmy.world to c/aboringdystopia@lemmy.world

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[-] MooseBoys@lemmy.world 33 points 11 months ago

According to the Journal, Nessie would inflate prices and monitor whether other retailers, like Target, would follow suit. If the competing retailers maintained the lower price, the algorithm would automatically revert Amazon’s to its normal price.

Isn’t this how retail pricing always works?

[-] bobloadmire@lemmy.world 0 points 11 months ago

Most people don't know how retail pricing works, so when they read an article like this, they're shocked and offended

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this post was submitted on 03 Oct 2023

426 points (97.1% liked)

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