Welcome to the Grocery Store Where Prices Change 100 Times a Day
Prices can change up to 100 times a day at Reitan's REMA 1000-branded grocery stores across Norway—and more often during holidays. The idea is to match or beat the competition with the touch of a button, says REMA 1000's head of pricing, Partap Sandhu. 'We lower the prices maybe 10 cents and then our competitors do the same, and it kind of gets to [be] a race to the bottom.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
TechCrunch
23 minutes ago
- TechCrunch
Amazon refutes report that it raised prices of popular items since Trump took office
A report in The Wall Street Journal (WSJ) last week found that prices on Amazon's low-cost essentials had risen since President Trump announced his plans for massive tariffs on international goods. Amazon responded with a lengthy blog post in response to the article, which describes the WSJ's reporting as 'fundamentally flawed.' WSJ analyzed the prices of 2,500 common Amazon items like cough drops, antibacterial wipes, and chicken broth, determining that the prices of these items increased on average by 5% from Trump's inauguration on January 20 to July 1. Amazon accused WSJ of 'cherry-picking' data and ignoring other factors surrounding the cost of certain products. According to Amazon, some of WSJ's findings were inaccurate because items like a Dove deodorant and a pack of Yogi Tea bags were on sale in January, when WSJ retrieved its initial pricing data. Amazon says that the price increase on these items occurred due to the promotion ending, not inflation or tariffs. Amazon's pricing is often dynamic, leading to fluctuations, which is why a random sampling across products at a point in time makes sense for an analysis like this. That Amazon felt it had to respond to this report suggests the company is sensitive about the topic and could even fear retaliation from the Trump administration. Amazon costs aside, customers may observe slight upticks in costs on popular items. Per the U.S. Bureau of Labor Statistics' June report, consumer prices rose 0.3% on the month, or 2.7% on the year.
TechCrunch
23 minutes ago
- TechCrunch
Amazon disputes report that it raised prices of popular items since Trump took office
A report in The Wall Street Journal (WSJ) last week found that prices on Amazon's low-cost essentials had risen since President Trump announced his plans for massive tariffs on international goods. Amazon responded with a lengthy blog post in response to the article, which describes the WSJ's reporting as 'fundamentally flawed.' WSJ analyzed the prices of 2,500 common Amazon items like cough drops, antibacterial wipes, and chicken broth, determining that the prices of these items increased on average by 5% from Trump's inauguration on January 20 to July 1. Amazon accused WSJ of 'cherry-picking' data and ignoring other factors surrounding the cost of certain products. According to Amazon, some of WSJ's findings were inaccurate because items like a Dove deodorant and a pack of Yogi Tea bags were on sale in January, when WSJ retrieved its initial pricing data. Amazon says that the price increase on these items occurred due to the promotion ending, not inflation or tariffs. Amazon's pricing is often dynamic, leading to fluctuations, which is why a random sampling across products at a point in time makes sense for an analysis like this. That Amazon felt it had to respond to this report suggests the company is sensitive about the topic and could even fear retaliation from the Trump administration. Amazon costs aside, customers may observe slight upticks in costs on popular items. Per the U.S. Bureau of Labor Statistics' June report, consumer prices rose 0.3% on the month, or 2.7% on the year.
Yahoo
an hour ago
- Yahoo
Robinhood CEO Says It's a ‘Tragedy' Retail Can't Tap Private Markets
(Bloomberg) -- Robinhood Markets Inc. Chief Executive Officer Vlad Tenev said retail investors are largely excluded from the 'huge opportunity' available in private markets. Can This Bridge Ease the Troubled US-Canadian Relationship? Budapest's Most Historic Site Gets a Controversial Rebuild Trump Administration Sues NYC Over Sanctuary City Policy 'A big tragedy is that private markets are where the bulk of the interesting appreciation and exposure is nowadays,' Tenev said in an interview with David Rubenstein for an episode of Bloomberg Wealth. 'It's a shame that it's so difficult to get exposure in the US. We're obviously working to solve that.' Robinhood has already taken steps in that direction, offering tokens to European retail clients last month that it said effectively give buyers exposure to private companies without technically representing equity in those firms. The move sparked concern about transparency in how brokers calculate the products' value, as well as debate about their safety. Both retail and institutional investors have been drawn to private companies. Earlier this month, JPMorgan Chase & Co. and Citigroup Inc. said they're adding research on private companies in sectors such as artificial intelligence and aerospace. Surging valuations among such companies have been triggering a surge in retail interest. 'That's where I would point to as the greatest remaining iniquity and opportunity in our capital markets,' Tenev said. To watch more of David Rubenstein's interview with Robinhood's Vlad Tenev, watch Bloomberg Wealth on Sept. 9 at 9 p.m. New York time on Bloomberg Television. (Corrects to delete reference to SpaceX and OpenAI in the third paragraph.) Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Confessions of an American Who Helped North Korea's Wild Remote Worker Scheme Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
