There is, it’s called market competition. There are several large supermarkets and people will shop at the best value ones (or just go to Waitrose because they are loaded and don’t care).
Supermarkets have often been taking the hit on inflationary pressure to stay competitive. It doesn’t need any intervention from anyone, the market works. The problem is just that costs have gone up and supplies are more limited in a world that’s more divided than it was before and more subject to supply chain issues due to geopolitics, climate change etc.
Social media having lots of price comparison between the prices they pay locally vs western European countries.
1 Like
phildawson
(Sorry, I will have to escalate this.)
8386
These are £3.90 at Sainsbury’s too. The point was they tried to up them to a point of £4.50, then found they couldn’t sell them so had to drop it 60p back to try at £3.90.
That £3.90 is the new normal price.
That £4.70 is Waitrose. Where it doesn’t matter if a choc bar is £5 or £10 when you don’t care about the bill. So if £4.70 is acceptable and gets purchased why drop it.
Costs will have increased so £2.20 to £2.80 might be understandable.
But to then keep repeatedly increasing to see at what point people go I can’t afford £2.20 > £3.90 that is just pure greed.
Don’t focus just on this case the same thing is happening across all brands, they deserve to be called out and boycotted.
In your example of the chocolate bar, if they could sell it at twice the price but only lost half the customers they would do it in a heartbeat.
There’s a balance between making money and what the customer will pay. This is the case for everything.
1 Like
Anarchist
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8391
Fair enough. What have you been doing to kick up a fuss?
In a capitalist economy the consumer can only send a message by changing their buying behaviour. If you are outraged by the price of goods your only recourse is to not buy the goods, or to buy them elsewhere.
As of 11 February, cocoa futures are at $10,300 per tonne – an astronomical figure for chocolate makers, especially small buyers. In December 2024, futures were up about 250% compared to the same month in 2023, from $3,800 to $12,500 per tonne.
Shortages in West Africa, which produces between 50 and 70% of the world’s cocoa, drove up prices. Climate change, a deadly virus, and aging cocoa trees in Ghana and Ivory Coast, the main exporters and a strong demand, are all cited as reasons.
I can guarantee you every company is trying to make as much money as they can. That’s the whole purpose of companies.
For some that will mean putting prices up and others it will mean keeping prices low to be more competitive and have more customers, but the motivation either way is the same.
No corporate execs are sitting there saying ‘how about we keep prices low because that’s a nice thing to do for consumers’.
3 Likes
phildawson
(Sorry, I will have to escalate this.)
8394
Unless you’re willing to organise a petition, protest then yes it’s literally just avoiding buying.
The issue is when one brand leads and others follow and you end up basic needs like toilet rolls costing way more than they should.
Those saying but businesses always want to make as much money. No shit.
There has definitely been a change in attitudes though, you must have experience it where people are more accepting of being screwed over without thinking through is this value for money.
I’ve been on this planet a few decades now and it feels like only in the last three or so years people are increasingly getting screwed over for every penny they have.
Not just food, but everything from council tax to water and energy and subscriptions.
At a certain point people on an average wage will have zero disposable income and be eating basic baked beans.
Sorry - how is trying to make money a bad business prospect? The only way I can think of to even describe a good business prospect is that it makes more money.
I’m out of touch when it comes to prices as I don’t do the shopping. I couldn’t even tell you how much a pint of milk is these days. I should probably learn these things.
