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FTC: Companies Are Using Your Data for Individualized 'Surveillance Pricing' | Retailers are hiring 'intermediary firms' to algorithmically tweak and target their prices, so you may be paying more based on your web history and profile

According to a new FTC report, retailers are hiring 'intermediary firms' to algorithmically tweak and target their prices, so you may be paying more based on your web history and profile.

These intermediaries worked with at least 250 clients that sell goods or services ranging from grocery stores to apparel retailers, according to the FTC, which concluded that widespread adoption of this practice "may fundamentally upend how consumers buy products and how companies compete." The findings come after the FTC last year asked eight “middlemen” companies to reveal how they combine computer algorithms and people’s personal information to adjust pricing" Mastercard, Revionics, Bloomreach, JPMorgan Chase, Task Software, PROS, Accenture, and McKinsey & Co. Before joining PCMag in 2024, I picked up bylines in BBC News, The Guardian, The Times of London, The Daily Beast, Vice, Slate, Fast Company, The Evening Standard, The i, TechRadar, and Decrypt Media.

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