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The RoBlog
Monday, December 06, 2004
Local Economics
On a related (to my previous entry) note, it is interesting the effect that RFID-enabled smart shelves could have on item pricing; better reflecting the supply and demand relationship of store inventory and/or sell rates. If you could do a search for products locally, and that inventory was updated in real time, then stores could practices supply and demand on a local level, raising the price on products no one currently has in stock, and lowering prices to be more competitive when other local stores DO have it in stock. Further, if pricing was handled in this manner, you might want potential customers to print out a page indicating what price they got through this system so that when the person came into the store they got this price (if it was within the expiration period of the offer), which would allow you to track leads and potentially ongoing customer information tracking.
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