What is ‘dynamic pricing’ and how does it impact your wallet?

Dynamic pricing, a time-based pricing strategy, is now creeping into restaurants, movie theaters, bowling alleys and more. NBC’s Sam Brock reports for TODAY.
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#economy #inflation #ticketmaster

[@xxxxMonkeyGirlxxxx]

Thank you companies for incentivizing me to stay home and save my money instead of giving it to these greedy companies.

[@OT7_DopeOldARMY]

If Dynamic Pricing with Ticketmaster was only a 25-30% price hike most concert-going fans would be thrilled. Instead, what we see is 400-1000% hikes. Minimum. Recently, dynamic pricing kicked in within 15 minutes of the start of a members-only pre-sale AND the price hikes were applied after people clicked on seats at regular prices but before they checked outl MANY people were caught buying tickets at exhorbitant prices because they didn't notice the price hike in the "fever" of going fast to make sure you kept the tickets you were trying to buy. Congress needs to do something about dynamic pricing - abolishing it altogether would be nice, but at a minimum put a cap on how much a company can hike their prices. It's predatory and unfair, no matter what industry is using it.
None of your "tips" help those trying to buy concert tickets, by the way, which is how you led this story. It's also disappointing that you didn't address how this practice makes pretty much everything open to pricing out everyone but the most wealthy. Those of us who work can't just take off in the middle of the afternoon to see a movie, and a this rate we can't afford the surge pricing in the evenings or on weekends. This is about greed, plain and simple.

[@jasonbourne1596]

If I put $60 worth of items in my cart, then by the time I can get someone to ring me up or I can get to an open register and do it myself, and then it's $80 or something, then we are going to have a problem.
They said prices can change up to once every 10 seconds.

[@Galaxylord2]

I'm sorry they can charge dynamic pricing but this consumer is just going to walk away.
And that can't be good for their bottom line.

[@julius333333]

you say that but you're not going to walk away from literally everything. are you going to off yourself

[@edupe6185]

Then why is Ticketmaster still winning? You can’t deny their success you know

[@DakotaFord592]

Are the workers working there getting paid more during these hours?? 😂😂

[@jasonbourne1596]

What workers?

[@Sinatra021]

Price fixing is what I'd call it

[@RollenND]

How about instead of dynamic pricing..they should just make it like an auction for people who want to buy into this jump of higher pricing🤷🏾‍♀️

[@thatoneguy378]

This has been going on since covid. It's getting worse. Nothing is a set price anymore.

[@DakotaFord592]

😂😂😂

[@jasonbourne1596]

What's funny about getting ripped off?