WALMART shoppers are concerned about the possibility of “price gouging” on groceries.
Some fear the retail giant’s new electronic shelf labels could be used to quickly change prices and increase the cost of products during busy shopping periods.
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Social media is abuzz with alarm over Uber-style “dynamic” pricing – a system in which prices rise when demand is highest – despite assurances from Walmart.
The company is rolling out digital shelf labels in hundreds of stores, allowing prices to change more easily. By 2026, more than 2,300 Walmart stores will use digital price tags on their shelves.
Walmart says the change is aimed at increasing the efficiency of workers, who currently have to do all price updates manually.
However, grocery expert Phil Lampert told NPR implementation could make dynamic pricing an option for the company.
“If it’s hot outside, we can raise the price of water and ice cream,” Lampert said in a quote that has since been circulated on social media.
“If something is close to expiration date, we can lower the price – that’s the good news,” he added.
The agency said the new system could allow prices to change as frequently as every ten minutes.
This provoked a swift reaction from buyers.
Scourge of Outbreak
Thousands reacted to the new technology in X.
“High prices at GROCERY STORES!?” one influencer posted. “I don’t care what your political affiliation is, but it’s time for a revolution to stop these corporate overlords.”
That tweet received more than 1,000 retweets and 26,000 likes.
“The price increase is the greediest thing I’ve ever seen,” said another.
“Can you change the price in 10 seconds?” another user asked. “Does this mean prices might change while I’m shopping? While the items are in my cart? While I’m literally in line to pay?
Others worry that even less frequent price changes could lead to fraud at companies.
“Hurricane coming? Price increase. Snowstorm coming? Price increase. Heat wave coming? Price increase,” said another tweet.
Some users pointed to the wealth of Walmart’s leadership as part of their frustration.
The company’s CEO, Doug McMillon, received $26.9 million in compensation last year. That’s nearly 1,000 times the average salary for Walmart employees, according to Business Insider.
However, others criticized the “fear” surrounding the label change, which Walmart says will not be used for dynamic pricing.
Walmart representatives said Fast company price changes would be “for planned rollback and final release items only.”
The US Sun has reached out to Walmart for comment.
PRICE ISSUES
With millions of Americans still weary of inflation, fears of rising prices could spread quickly.
The CEO of Wendy’s came under fire this spring after saying the fast food company would implement accelerated pricing.
Eventually, the company walked back its comments.
Cracker Barrel also has plans to offer items at different prices throughout the day.
Inflation remains stable and significantly below its 2022 peak.
Walmart recently announced that it was reducing some prices as it saw the prices of some products deflate.
Walmart stores closed in 2024
So far, Walmart has closed the following stores in 2024:
- San Diego, California – February 9
- El Cajon, California – February 9
- Columbus, Ohio – February 16
- West Covina, California – March 29
- Towson, Maryland – April 5
- Granite Bay, California – April 12
- Milwaukee, Wisconsin – May 19
- Fremont, California – May 24
- Aurora, Colorado – June 7
This story originally appeared on The-sun.com read the full story
