Dynamic pricing means ever-changing prices - Fox 2 News Headlines

Dynamic pricing means ever-changing prices

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NEW YORK (MYFOXNY) -

Have you ever gotten a price quote for a product online and found out someone else got a different price?

It happens a lot and online stores can give different prices depending on who you are and where you live.

It's called dynamic pricing.

Christina Warren, senior tech editor at Mashable says the trend allows retailers to change the price of an item based on the market demand, including the time of day you're shopping and your location..

"If you're on a Mac or a PC, they'll show you different prices based on different things," Warren says. "In fact, what some companies are doing is their going as far as if there's a competitor within however many miles of your zip code within your location, they'll offer you a better price than if you're in a location where there isn't a competitor."

Retailers will even use your computer or smartphone brand to come up with prices.

"By and large most consumers don't know that this is even happening and this is what makes it so tricky," Warren says.

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