Investing.com -- Walmart Inc. will not use customer personal information to set individualized prices, the company's CEO said last Friday in a letter addressing concerns about dynamic pricing practices.

John Furner, president and CEO of Walmart, stated the retailer will maintain its Every Day Low Prices principle, which has guided the company for more than 50 years. The policy ensures consistent pricing without variation based on customer characteristics or shopping patterns.

"We price the product, not the person," Furner wrote in the September 25 letter to customers and members.

The CEO outlined three specific commitments. Walmart will not set different prices based on customer identity or time of day. The company will not use information shared through Sparky, its AI shopping assistant, to raise prices or hide lower-priced options. Walmart will continue to use customer information responsibly and respect customer choices about data sharing.

Furner addressed questions about digital shelf labels appearing in Walmart stores. The labels help ensure shelf prices match checkout prices and reduce time associates spend replacing paper tags, he said.

The company will use AI to provide personalized customer service but will not leverage that technology for personalized pricing, according to the letter. Furner said Walmart's people will continue to oversee pricing and monitor technology against the stated commitments.