It’s hard to overstate how important good information is in business and this applies equally to why Masters of the Universe are tempted to go in for insider trading as it does why we have Go Compare adverts.
This is not here for its musical chops
The competition for supermarkets in Britain is pretty limited and customers have a particular disadvantage here.
The only solution to this is to sit down and try to address the information disadvantage. There’s various ways of doing this and one way is to do primary research. Unfortunately, canvassing all products in all supermarkets in a reasonable amount of time is a massive task and, being give-up-your-day-job labour intensive, it won’t save you much money. It has only just become practical to do it this way because the internet, of course, has made it practical to crowdsource supermarket comparison shopping. Suddenly everyone can share small samples of prices that they found while going about their lives and combine them together into a database.
Supermarkets, as rational actors, do not like this. So much so that they have taken some big steps to stomping it out. People writing in notepads or taking pictures of shelves have been asked to leave stores because it’s against the law.
The Guardian comments come to our aid here:
Just for the avoidance of doubt, in legal terms this is what is technically known as ABSOLUTE BALLS.
The interesting thing is the Tesco staff quoted in the article’s approach to this. They explicitly say that you are allowed to track the prices of things you buy but not things still in the store. This is naturally a fantastic option for Tesco.
H/T: The Guardian