Instacart Faces New York Attorney General Probe Over Algorithmic Pricing

MT Newswires Live01-09

Instacart (CART) was sent a letter Thursday by New York Attorney General Letitia James requesting more information about the company's use of algorithmic pricing and price-setting experiments, according to a statement from the Attorney General's office.

The letter follows a study by Groundwork Collaborative and Consumer Reports showing that Instacart customers sometimes paid up to 23% more for identical items at the same store and time. The study also found that nearly three-quarters of items had multiple prices, with an average 13% difference.

The AG warned that these pricing practices may violate New York's Algorithmic Pricing Disclosure Act, which requires companies to clearly disclose when they use personal data and algorithms to set prices.

"Instacart's pricing experiments raise serious concerns about its use of algorithmic pricing, and I will not hesitate to take action to enforce our laws and protect consumers," James said.

Instacart didn't immediately reply to MT Newswires' request for comment.

Shares of the company were down 2.6% in recent trading.

Price: 43.50, Change: -1.15, Percent Change: -2.58

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