Instacart announced the immediate cessation of its AI-powered pricing tool that allowed retailers to charge varying prices for the same items on its platform, following investigations revealing significant price discrepancies by retailers like Albertsons and Costco. The decision, influenced by customer feedback and ongoing scrutiny from the Federal Trade Commission (FTC), aims to maintain pricing integrity, though retailers can still set different prices in physical stores. Instacart had acquired Eversight, the pricing technology provider, in 2022 and began offering its services in 2023. Additionally, the company recently agreed to pay $60 million in customer refunds over allegations of deceptive practices related to its delivery service promotions.
Want More Context? 🔎
Loading PerspectiveSplit analysis...
