Retailers cancelling orders and setting higher pricing

Katr1na

Not too good to be true - i paid £30.86 and another retailer advertised it at £40 (they have also now gone back upto original price). I bought 3 to give as Christmas gifts

The price Superdrug readvertised is £59, so is extra £28.14 each

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82184386#Comment_82184386

OP said

 I bought 3 of the specific item for £29, they cancelled the order as out of stock but the item is available to buy now at £59.25

Aylesbury_Duck

https://forums.moneysavingexpert.com/discussion/comment/82184420#Comment_82184420

Yes, but it might be something that's genuinely available at or around £29 from time to time, in which case it might be a case of a poor pricing decision rather than a genuine pricing error.

Alderbank

Nowadays it's quite likely to be a tracker bot which monitors prices of their high street competitors.

Mark my words, we'll see more 'dynamic pricing' around Black Friday and Christmas.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82184558#Comment_82184558

Noticed this on the couple of times a year I buy my favourite aftershave. By no means ultra premium but not cheap, when you compare prices for a week you can see the various outlet's prices matching each other.

the_lunatic_is_in_my_head

https://forums.moneysavingexpert.com/discussion/comment/82184558#Comment_82184558

Dynamic pricing is a term usually reserved for pricing to a specific customer, for example if you look wealthy you pay more. There have been reports of it in the US, I’ve not heard of it here, whether it would fly is another question, consumer rights are pretty strong here.

Plenty of places seem to price other places, Amazon have been doing it for years.

As pointed out no contract until dispatch so they simply withdrew acceptance of the offer which is fine.

Alderbank

…Dynamic pricing is a term usually reserved for pricing to a specific customer, for example if you look wealthy you pay more. There have been reports of it in the US, I’ve not heard of it here, whether it would fly is another question, consumer rights are pretty strong here…

Dynamic pricing is a revenue management strategy where businesses adjust the prices of products or services in real time based on current market demand, supply levels, competitor pricing, and timing.

It's already flying here - one example is online stores automatically matching competitor prices using automated software and tracking algorithms.

Another example reported by Martin Lewis is motor insurance companies using it to vary policy charges up or down according to renewal date, the sweet spot being about 30 days before renewal.

I'm surprised you haven't heard of it - the Competition and Markets Authority considered it significant enough to publish a 3,000 word policy paper on it last year. You might find the chapter 'What does consumer law say about dynamic pricing? And what does that mean for businesses?' interesting

https://www.gov.uk/government/publications/dynamic-pricing-project-update/update-dynamic-pricing

flaneurs_lobster

Dynamic pricing can be seen in some city centre pubs & bars, sometimes called 'reverse happy hour' - price of booze goes up at the busiest times.

https://www.bbc.co.uk/news/articles/c4g2z6405zpo

Although is it really 'dynamic' if it's just slapping an extra £2(!) on a pint after 10pm?

eskbanker

Dynamic pricing is a revenue management strategy where businesses adjust the prices of products or services in real time based on current market demand, supply levels, competitor pricing, and timing.

It's already flying here - one example is online stores automatically matching competitor prices using automated software and tracking algorithms.

…and it's already here when flying - it's been established practice within the airline industry for many years, where prices often fluctuate considerably between initial release and departure!

the_lunatic_is_in_my_head

https://forums.moneysavingexpert.com/discussion/comment/82186184#Comment_82186184

Yes that is and has been happening.

What they are reportedly doing in the US is using data about you to charge you a different price for say groceries compared to the person standing right next you at the time.

It seems both are being called dynamic pricing.