New York Exposes Hidden Online Pricing Tricks Costing You Money

If you feel like you're being squeezed every time you shop online, you’re not imagining it.

On Monday, New York Gov. Kathy Hochul announced a first-in-the-nation surveillance pricing law.

Nation Leading Pricing Law In Effect

According Gov. Hochul office, as more New Yorkers do their holiday shopping from their phones and laptops, companies are quietly scooping up everything they can about you.

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This includes what you click on, where you are, what you’ve bought before, and even how long you hover over a product.

Hochul says this nation-leading law was designed to help consumers make the most of their purchasing power.

“As we enter the busy holiday shopping season, New Yorkers deserve to know they are getting a fair deal when shopping online,” Governor Hochul said.

New York State officials say New Yorkers should be aware of algorithmic price setting for online purchases.

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"This new law shines the light on hidden online pricing tactics that take advantage of consumers. By requiring companies to be upfront when setting prices based on personal data, we are giving shoppers the transparency they need to make smart choices and keep more of their hard-earned money in their pockets," Hochul added.

The new law requires businesses to clearly disclose to consumers when their prices are set by algorithms using their personal data.

The FTC calls this surveillance pricing. You and your neighbor could be looking at the exact same item and getting totally different prices, all because a company thinks you’re willing to pay more.

New York Leaders believe this will stop that for New Yorkers.

“New Yorkers deserve transparency and fairness at every step of their online experience. This new law ensures consumers understand when algorithms and personal data are influencing the prices they see," Assemblymember Nily Rozic said. "I am proud that New York is leading the way in protecting shoppers and strengthening trust across the digital marketplace.”

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