The Fair Pricing and Transparency Act establishes regulations for retail food stores in New Jersey regarding the pricing of groceries and other foodstuffs. Under this act, retail food stores are required to clearly display the sale prices of their products and are prohibited from employing practices such as surveillance-based price discrimination, dynamic pricing, or personalized pricing. These prohibitions extend to any price modifications based on consumer behavior, inferred data, or personally identifiable information, including changes that may occur within short timeframes or across separate transactions. Additionally, retail food stores larger than 15,000 square feet are barred from using electronic shelf label systems for four years after the act's effective date.

The act also allows for loyalty, membership, or reward programs, provided that any personally identifiable information collected is not used to alter the pricing of groceries. To ensure compliance and assess the impact of electronic shelf label systems on pricing transparency and employee job security, the Division of Consumer Affairs is mandated to conduct a study within 12 months of the act's enactment. Violations of the act are classified as unlawful practices under the consumer fraud act, with penalties including monetary fines, cease and desist orders, and potential punitive damages.