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Derek Kravitz

๐Ÿ‘ค Speaker
88 total appearances

Appearances Over Time

Podcast Appearances

Today, Explained
The Price is Rigged

If you're more willing to pay more money to buy alcohol or sweets on a Friday...

Today, Explained
The Price is Rigged

Late on a Friday and you group all those products together on a Friday.

Today, Explained
The Price is Rigged

For a company, they understand that purchase history and they understand that they can charge you more based on that purchase history.

Today, Explained
The Price is Rigged

And they can sell those insights, that information and data to retailers as a really valuable opportunity.

Today, Explained
The Price is Rigged

bit of information on you, the shopper.

Today, Explained
The Price is Rigged

And of course, retailers want that.

Today, Explained
The Price is Rigged

And they see, you know, the ability to make more money, especially in a business like grocery that has really low margins.

Today, Explained
The Price is Rigged

Historically, this means something this this 123 percentage points means hundreds of millions of dollars in additional revenue.

Today, Explained
The Price is Rigged

And that's the difference between, you know, making a profit or not.

Today, Explained
The Price is Rigged

So they did say, you know, look, this is something that we're pretty open about.

Today, Explained
The Price is Rigged

We've been telling our business clients for years, this is happening.

Today, Explained
The Price is Rigged

And look, we still believe that it's negligible price differences, small, limited time and randomized.

Today, Explained
The Price is Rigged

And really, at the end of the day, it helps grocery retailers and us know why.

Today, Explained
The Price is Rigged

which products people care most about and trying to, in the attempt to try to make groceries more affordable for more Americans.

Today, Explained
The Price is Rigged

Our data showed something a little bit different.

Today, Explained
The Price is Rigged

Very few people in our testing got the lowest price possible.

Today, Explained
The Price is Rigged

When we looked at it, 8% of our testers got the lowest available price on products.

Today, Explained
The Price is Rigged

And everyone else, 92%, got something higher.