The Federal Trade Commission is moving to ensure companies disclose use of customers’ personal data to set prices, as technology makes it easier for retailers to tailor them to individual shoppers.
The FTC said that it is seeking public comment on an enforcement policy statement concerning “personalized pricing,” which the agency defines as using personal data to determine how much a company believes an individual consumer is willing to spend. The proposal would warn companies that failing to disclose that they are using personal data to set prices could violate the FTC Act’s prohibition on unfair or deceptive practices.
