00:00It's Benzinga, bringing Wall Street to Main Street.
00:03A new study found that Instacart's use of artificial intelligence pricing tools
00:06led shoppers to pay different prices for identical items from the same store, according to CNBC.
00:12The study, released Tuesday by Groundwork Collaborative, Consumer Reports, and News Organization,
00:18More Perfect Union enlisted 437 shoppers in four cities
00:22to add identical items from the same store to their Instacart carts to test for price differences.
00:28Researchers tested prices across major Instacart partner retailers,
00:31including Target, Costco, Albertsons, Kroger, and Safeway.
00:35They found that nearly 75% of items showed different prices for shoppers.
00:40Groundwork said identical baskets at the same store varied by about 7%,
00:44creating a potential annual cost swing of roughly $1,200.
00:49Instacart said a small subset of retailers run limited pricing tests
00:53and that retailers control pricing to identify where lower prices matter most.
00:56For all things money, visit Benzinga.com.
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