Which retail pricing innovation, first widely implemented in the 1970s, used electronic scanning technology to replace individual item price tagging?

In the competitive world of retail, pricing strategies can make or break a business. One particular innovation revolutionized how consumers shop and how retailers operate. This pricing approach transformed consumer expectations and forced an entire industry to adapt. Test your knowledge about this game-changing pricing strategy that continues to influence retail operations worldwide.

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Universal Product Code (UPC) scanning system
Algorithmic dynamic pricing
RFID price tagging
Subscription-based pricing model