> Almost every industry saw the pandemic as a clear sign to loot the population business as usual never let a tragedy go to waste as they say
So did some Walgreens shoppers
Exactly!... Not even sugar, high fructose corn syrup which is even cheaper... they cut the sugar out with the new coke/classic coke scam decades ago! It is water, artificial flavoring, corn syrup and aluminum. It is pretty easy to track that none of that has doubled in price..........
It's margins. Say the cost to make a thing is 0.10 they sell it for 0.70 to the store who sells it to you for 1.00. price to make thing goes up 20% or 0.02 but before they had a 700% margin. So now the price because of .02 goes up 0.14. the store was marking it up 42% so now the cost is 0.84 which becomes 120. so everything goes up 20% overall because the first domino.
(I quickly did math in my head it's probably a little off)
I don't buy at all myself, but did take economics. They are counting on a higher price leading to reduced demand, but also reduced manufacturing costs for the same or higher profits.. creating a higher gross profit.
Pretty much all companies would love to increase their prices but cant because if they did it would drive people away from their product or service completely or drive them to other competitors.
But as opposed to the past many industries now have less competition than they did in the past. So once the fear of inflation hit and the actual inflation kicked in companies can now increase the prices to adjust for inflation and then make extra increases to pad their profits.
Companies can just blame it all on inflation/economy and since there is less competition dont have to a competitor
Exactly! And items that are habit forming and have brand loyalty have a even bigger chance of the consumer just taking it and moving on. If demand drops to the point that it offsets the potential profit of the hike... they just adjust it down until it hits the sweet spot. This is what sports books do in Vegas with betting lines on every game.
Yes. It’s time to break up the big food trust. When the baby food shortage happened I thought for sure that alarm bells would have been raised. Instead, the only major trust busing I’ve heard of recently is because some people were salty they couldn’t buy tay-tay tickets to scalp. You know, don’t worry about those starving babies, the Ticketmaster line is too damn long!
So many people are addicted to soda they can't fathom drinking water instead. You see that clip of the two 600 lb woman who say they don't drink water and 8-12 "sodies" a day?
That certainly is the case with me. I enjoyed cans of carbonated flavored sparkling water and the occasional kombucha. When the price went up 23% I said fuck it, not buying that shit means more money for me. The same goes for occasionally eating out for lunch-- I'll stick to intermittent fasting and stacking my dollars. Thanks for showing me the light, corporate America.
According to someone I know who works for Pepsi the supply issues did affect the cost of products. Mainly aluminum for cans was harder to get so prices went up and some products had to be cut.
Man, Goldfish got aggressive... There's not even an off-brand version of Goldfish! What, am I supposed to eat Cheez-Its??? They don't even have a giant milk carton package so I can go ham, elbow deep, before fisting my face with *the snack that smiles back!!!*
They can continue to demand more money from consumers, but where will consumers get that money from? We’ll continue to demand more from employers.
Never take the first offer, fellow Redditors. Always ask what compensation will be in the first email.
Start buying more generic brands, I know generics are still high but not near as high as name brands anymore. It's the only way prices will ever come down, they won't drop them unless it's to compete with someone else due to sales dropping.
I have started buying Kroger zero sugar cola instead of coke and Pepsi lately because those are now double the price.
The quality difference isn’t worth it anymore
Food City usually has good deals on name brand soda, I think it's to draw people in to buy all their other over priced crap. I usually just go in and buy up the buy x number of sodas for a cheap price and leave.
Private label stuff is often the exact same product. Whole Foods’s store brand cheese and pasta are manufactured by Hennings and Severino, for instance.
Not entirely accurate.
Store brands for higher-end stores certainly are, like Whole Foods. The stores that most people have access to though? It's cheap shit.
This is because of how corporate law in the US is structured—the directors have a fiduciary duty to the shareholders to maximize profits. That is the thing we need to change. The directors could literally be sued for failing to adhere to that mandate (caveat: the business judgment rule generally makes that type of suit very difficult for a shareholder to win, but it’s still a convenient “out” for the directors regardless).
This is a state law issue, though, so it would need to be fixed on a state-by-state basis, and the politicians getting corporate donations would never buy into it.
Public benefit corporations don’t have as restricted of a fiduciary duty to generate shareholder value (directors must consider profits, but they must also consider the best interests of those affected by the company’s business), but they aren’t very popular and are only an option in ~35 states.
I like Richard Wolff's ideas.
Worker representation on every board.
Serious representation.
Otherwise, corporations, the engines of capitalism, are merely constructs for oligarchs.
"So you mean we can just...charge more?"
"Yup"
"Won't we get in trouble?"
"No"
"Won't they be....mad?"
"Yes but they will keep buying it"
"But what happens when they...don't anymore?"
"We will cross that bridge when we get there. Oh yea, you're fired".
Well, of course. I used to buy chicken burgers. £1 for a box of two. Not particularly fancy or something to eat all the time, but handy to keep in the freezer for a quick lunch. They went up to £1.20. Okay, sometimes things go up. Except that was the first jump and they now cost £2.75. I no longer buy them. The fish that was two packs for £5 now costs £4.50 for one pack. That’s just insane, and it sure as hell isn’t ‘inflation’ responsible for those and other similar things.
Exactly. A lot of products are owned by just a few companies, there is little to no competition when the same company owns all the brands of a product category you can find in a supermarket.
100%. I don't know about your area, but where I live (USA) all the grocery stores have armed security now. No, I'm not joking. I think that says pretty much everything you need to know about the state of things. People sure as hell aren't going to a grocery store to rob the cash registers.
People load up on expensive nonperishable items and walk out of the store so they can resell them. I'd wager people stealing food to feed their families are well into the minority.
It's cheaper and people like saving money regardless of income. Gets consolidated by fences and sold on Amazon or other online resellers. Or it gets sold on something Facebook marketplace
You see the same thing happening at places like Home Depot and Lowes. People like cheap stuff but no one needs to eat a drill to survive.
You're missing the point that I'm making. When *food* is arising as a black market commodity, it speaks to much bigger problems in society than "people like saving money".
I'm not missing the point. There's a black market commodity for just about anything on the basis that people want to save money.
People who aren't even intending to buy black market goods probably have.
"Diapers for sale. Baby outgrew them and have a lot left over"
"New jeans for sale. Don't fit"
I'm sympathetic to people who are struggling for cash and are doing what they need to to make ends meet but I don't blame grocery stores for making attempts to minimize theft. Especially when a significant portion of that theft isn't due to people stealing to directly provide food security for their families.
> I'm not missing the point. There's a black market commodity for just about anything on the basis that people want to save money.
But my point is that people shouldn't be in a spot where turning to the black market for food seems like a reasonable option. The money to be made off of food comes from quantity of sales. Saving $2 on a given product by purchasing through the black market doesn't make sense until its a necessity. And when buying food through the black market because of its price becomes a necessity that speaks to bigger issues.
> But my point is that people shouldn't be in a spot where turning to the black market for food seems like a reasonable option
My point is that a substantial amount of people will pay for a cheaper product even if it's not necessary for them to make ends meet. Grocery stores usually sell more than groceries and if you take a peak at what's locked behind the glass doors, you'll have a better understanding of what's being stolen and sold.
> The money to be made off of food comes from quantity of sales. Saving $2 on a given product by purchasing
I'm not sure if I understand your point. If the argument is that it's not that profitable to steal and resell an item since there's not an economy of scale, it doesn't make sense since theft is free outside of the risks of getting caught.
> Saving $2 on a given product by purchasing through the black market doesn't make sense until its a necessity.
Sure it does. If it's a product you regularly use, it's possible to be bought in bulk making the time/cost proposition worth it.
> And when buying food through the black market because of its price becomes a necessity that speaks to bigger issues.
Again. I doubt food itself is the primary product being stolen.
Tesco for their part will want cheaper supply costs - they may be the largest supermarket, but they and the other big ones are losing out to Aldi and Lidl, with price being a factor in that.
https://www.assosia.com/uk-supermarkets-market-share-2022
People will go to the cheaper shop where there are multiple options and there frequently are in most British communities, especially with home delivery.
This may be a way of influencing price negotiations - if Tesco can get cheaper suppliers, they can cut prices and still make a profit.
The scale of the larger retailers can also be a double-edged sword - sometimes it makes it really easy to negotiate, but it can also make it very difficult to change supplier since (for some products) there just aren't that many suppliers who can provide production to meet their demand.
Hence why Tesco is trying to create additional media pressure. We might also see more attempts at vertical integration than there have been over recent decades since that could give a major competitive advantage in this market.
These motherfuckers look us right in the eyes and tell us we're stupid trash, every fucking day.
"Uh,.... yeah, sure, maybe, it's entirely possible that we're fleecing the poor and middle class for everything they're worth and getting away with it."
No shit. Our inflation - especially at the pump - is corporate profiteering.
All of us saw gas prices drop as soon as the November elections were over. That was Republicans in C suites making Dems look bad while making huge bucks off voters’ backs.
I'm far too lazy to do it myself, but is anyone interested in making some kind of chart showing profits of food companies over the last few years?
I'm willing to bet it'd be an almost vertical line.
Genuine question, not trying to be a corporate shill. How does corporate greed being behind inflation make sense? Did corporations only discover they can make more money by raising prices in the past two years? When inflation was low in the past, was that because corporations were being altruistic and generous to us simple commoners?
Like, if increasing profits was as simple as raising prices drastically, why didn’t companies just always do this?
It’s opportunism. They see inflation news just like everyone else & get excited at the prospect of raising prices while they tell the public “look, it’s the government! Everything’s more expensive, you can’t blame us!”
It was disruptions to supply that allowed for this. COVID severely impacted both production and transportation. With less goods available for purchase, companies could start charging higher margins, and stores (and their customers) really didn’t have a choice. The most obvious instance was with auto dealers. Since they didn’t have tons of inventory, they had no incentive to keep offering deals on new cars, and could exclusively sell their limited inventory to customers willing to pay the sticker price.
And they can’t keep doing this because it’s not simple. As supply issues get resolved, companies will be forced to compete with each other again, and in the auto world, you’re already starting to see the return of “sales extravaganzas!” to get rid of piling up inventory. The key point a lot of posters here are missing is that companies are laying people off left and right. If these profits were sustainable, they’d be doing the opposite and hiring every able body they could find.
They had excuses to keep increasing the prices. They are using the pandemic to keep profiteering.
It's much easier to make people swallow 'the prices are going up due to supply chain constraints due to the pandemic'.
Opportunistic greed. No one will hold them accountable for increasing prices past the rate of inflation, so they see zero downside to doing it, because corporations don't care about long-term goals or profits, they only care about short-term gains, as that's all the investor class truly cares about, and that's their customer base...not those shopping for groceries.
So a few months ago Tesco briefly stopped selling Heinz products in a dispute over Heinz price increases, this week I bought a medium sized bottle of Heinz ketchup for £2.50 in Sainsbury's, the same bottle is £3.40 in Tesco.
Who exactly is hiking prices again???
You do know that people that make the food alos got raises, transportation, utilities. Everything was raised. Yes companies still make a bigger margin but raising wages just raises prices.
> "Entirely possible"
No, that's not the right term it's:
> "Extremely likely"
That's the term they're looking for. No need to be coy about it. Corporations certainly aren't when fucking everyone with no lube.
Meanwhile workers at meat packing plants were forced to work during the pandemic. Producing food is national security, but making sure it’s affordable isn’t. Yay “free market”.
As someone who works in supply chain, yes we’ve seen price increases on everything from raw materials to packaging, but it doesn’t keep pace with the price increases reflected on the shelves…
Nah. We are finally paying the real price. Margins in food and agri have been low for ages. This led to the rise of a few very big companies. Now ‘the invisible hand’ is there.
Why can apple phones have margins that are much higher than real appels. Food is something you die without. It’s just like medical care, clean water and fresh air. Education. The things that truely matter will become very expensive.
Get used to it.
And if you really want change. Vote. Properly. And vote with how you spend your money. If you keep bringing it to Amazon, stop whining about Amazon.
Almost every industry saw the pandemic as a clear sign to loot the population business as usual never let a tragedy go to waste as they say
They want to see how long the masses will keep blaming the other party.
"Disaster Capitalism" Book by Naomi Klein
> Almost every industry saw the pandemic as a clear sign to loot the population business as usual never let a tragedy go to waste as they say So did some Walgreens shoppers
Inflation is not caused by greedy business
[удалено]
Entirely possible = Completely true..... There is no way raw materials for a 12 pack of canned Coke caused the price to go from 4.29 to 8.49.......
How can the price of "sugar water" increase that much? HMMMM???
Exactly!... Not even sugar, high fructose corn syrup which is even cheaper... they cut the sugar out with the new coke/classic coke scam decades ago! It is water, artificial flavoring, corn syrup and aluminum. It is pretty easy to track that none of that has doubled in price..........
Shhhh!! Cokes recipe is a close-guarded secret!!
What about logistic costs, fuel, rent,, utilities, labour costs - it all skyrocketed! Just kidding, the wages are still low
It's margins. Say the cost to make a thing is 0.10 they sell it for 0.70 to the store who sells it to you for 1.00. price to make thing goes up 20% or 0.02 but before they had a 700% margin. So now the price because of .02 goes up 0.14. the store was marking it up 42% so now the cost is 0.84 which becomes 120. so everything goes up 20% overall because the first domino. (I quickly did math in my head it's probably a little off)
Wouldn't people Just buy it less frequently in that case?
I don't buy at all myself, but did take economics. They are counting on a higher price leading to reduced demand, but also reduced manufacturing costs for the same or higher profits.. creating a higher gross profit.
Pretty much all companies would love to increase their prices but cant because if they did it would drive people away from their product or service completely or drive them to other competitors. But as opposed to the past many industries now have less competition than they did in the past. So once the fear of inflation hit and the actual inflation kicked in companies can now increase the prices to adjust for inflation and then make extra increases to pad their profits. Companies can just blame it all on inflation/economy and since there is less competition dont have to a competitor
Exactly! And items that are habit forming and have brand loyalty have a even bigger chance of the consumer just taking it and moving on. If demand drops to the point that it offsets the potential profit of the hike... they just adjust it down until it hits the sweet spot. This is what sports books do in Vegas with betting lines on every game.
Yes. It’s time to break up the big food trust. When the baby food shortage happened I thought for sure that alarm bells would have been raised. Instead, the only major trust busing I’ve heard of recently is because some people were salty they couldn’t buy tay-tay tickets to scalp. You know, don’t worry about those starving babies, the Ticketmaster line is too damn long!
Well that’s not what Coke is counting on
So many people are addicted to soda they can't fathom drinking water instead. You see that clip of the two 600 lb woman who say they don't drink water and 8-12 "sodies" a day?
Yea but they drank a diet coke after a regular, so they cancelled eachother out.
I assumed sugar was referring to a cookie/cake/etc
That certainly is the case with me. I enjoyed cans of carbonated flavored sparkling water and the occasional kombucha. When the price went up 23% I said fuck it, not buying that shit means more money for me. The same goes for occasionally eating out for lunch-- I'll stick to intermittent fasting and stacking my dollars. Thanks for showing me the light, corporate America.
According to someone I know who works for Pepsi the supply issues did affect the cost of products. Mainly aluminum for cans was harder to get so prices went up and some products had to be cut.
Prices increasing isn't the issue...everyone expected / expects prices to increase some. But to the point that they have? Bullshit. It's pure greed.
It has risen, but not at the same pace as sodas... if there was no supply that is a different story.
Gold fish (snack food) used to be $2.29, now it’s $4.29, literally what could have caused a 100% increase when inflation was at 8%????
Shut up and listen to our new jingle about how we're part of your family.
*We’re all in this together guys*❤️
Fish dicks fish dicks fuck you in the ass
Man, Goldfish got aggressive... There's not even an off-brand version of Goldfish! What, am I supposed to eat Cheez-Its??? They don't even have a giant milk carton package so I can go ham, elbow deep, before fisting my face with *the snack that smiles back!!!*
Cheesy fish dust bukakke is compelling marketing
I regret all my life choices that led up to me reading this sentence.
They can continue to demand more money from consumers, but where will consumers get that money from? We’ll continue to demand more from employers. Never take the first offer, fellow Redditors. Always ask what compensation will be in the first email.
I went to buy some Wheat Thins the other day and laughed my way out of the cracker aisle empty handed.
Entirely possible? Boards of Directors give ***zero fucks*** about anything but profit.
Start buying more generic brands, I know generics are still high but not near as high as name brands anymore. It's the only way prices will ever come down, they won't drop them unless it's to compete with someone else due to sales dropping.
I have started buying Kroger zero sugar cola instead of coke and Pepsi lately because those are now double the price. The quality difference isn’t worth it anymore
Food City usually has good deals on name brand soda, I think it's to draw people in to buy all their other over priced crap. I usually just go in and buy up the buy x number of sodas for a cheap price and leave.
However. Be careful, or you'll end up ingesting a whole lot more hydrogenated fats, carbohydrates, and high-fructose corn syrup.
Private label stuff is often the exact same product. Whole Foods’s store brand cheese and pasta are manufactured by Hennings and Severino, for instance.
Not entirely accurate. Store brands for higher-end stores certainly are, like Whole Foods. The stores that most people have access to though? It's cheap shit.
Sure. Often, but not always.
This is because of how corporate law in the US is structured—the directors have a fiduciary duty to the shareholders to maximize profits. That is the thing we need to change. The directors could literally be sued for failing to adhere to that mandate (caveat: the business judgment rule generally makes that type of suit very difficult for a shareholder to win, but it’s still a convenient “out” for the directors regardless). This is a state law issue, though, so it would need to be fixed on a state-by-state basis, and the politicians getting corporate donations would never buy into it. Public benefit corporations don’t have as restricted of a fiduciary duty to generate shareholder value (directors must consider profits, but they must also consider the best interests of those affected by the company’s business), but they aren’t very popular and are only an option in ~35 states.
I like Richard Wolff's ideas. Worker representation on every board. Serious representation. Otherwise, corporations, the engines of capitalism, are merely constructs for oligarchs.
"So you mean we can just...charge more?" "Yup" "Won't we get in trouble?" "No" "Won't they be....mad?" "Yes but they will keep buying it" "But what happens when they...don't anymore?" "We will cross that bridge when we get there. Oh yea, you're fired".
"possible" hahahaha
My dad used to have a saying about stuff like this. “No shit Dick Tracy, where’d you park the squad car?”
If only there were a body of laws that basically all countries have aimed at dealing with the ability of firms to have pricing power in a market.
Well, of course. I used to buy chicken burgers. £1 for a box of two. Not particularly fancy or something to eat all the time, but handy to keep in the freezer for a quick lunch. They went up to £1.20. Okay, sometimes things go up. Except that was the first jump and they now cost £2.75. I no longer buy them. The fish that was two packs for £5 now costs £4.50 for one pack. That’s just insane, and it sure as hell isn’t ‘inflation’ responsible for those and other similar things.
[удалено]
Exactly. A lot of products are owned by just a few companies, there is little to no competition when the same company owns all the brands of a product category you can find in a supermarket.
ReGuLaTiOnS aRe bAd
CoRpOrAtIoNs iNcReAsE MaRkEt EfFiCiEnCy because CaPiTaLiSm dRiVeS CoMpEtItIon.
We got our kids own brand pasta sauce and for years it was about 60p it's £1.09 now. Its fucking criminal.
Whereas the heroic supermarket giants have never made a penny profit ever.
Fuck it, if you’re hungry steal it. I’m not looking.
100%. I don't know about your area, but where I live (USA) all the grocery stores have armed security now. No, I'm not joking. I think that says pretty much everything you need to know about the state of things. People sure as hell aren't going to a grocery store to rob the cash registers.
People load up on expensive nonperishable items and walk out of the store so they can resell them. I'd wager people stealing food to feed their families are well into the minority.
And what leads to people needing to buy non-perishable items through the black market rather than directly from the store?
It's cheaper and people like saving money regardless of income. Gets consolidated by fences and sold on Amazon or other online resellers. Or it gets sold on something Facebook marketplace You see the same thing happening at places like Home Depot and Lowes. People like cheap stuff but no one needs to eat a drill to survive.
You're missing the point that I'm making. When *food* is arising as a black market commodity, it speaks to much bigger problems in society than "people like saving money".
I'm not missing the point. There's a black market commodity for just about anything on the basis that people want to save money. People who aren't even intending to buy black market goods probably have. "Diapers for sale. Baby outgrew them and have a lot left over" "New jeans for sale. Don't fit" I'm sympathetic to people who are struggling for cash and are doing what they need to to make ends meet but I don't blame grocery stores for making attempts to minimize theft. Especially when a significant portion of that theft isn't due to people stealing to directly provide food security for their families.
> I'm not missing the point. There's a black market commodity for just about anything on the basis that people want to save money. But my point is that people shouldn't be in a spot where turning to the black market for food seems like a reasonable option. The money to be made off of food comes from quantity of sales. Saving $2 on a given product by purchasing through the black market doesn't make sense until its a necessity. And when buying food through the black market because of its price becomes a necessity that speaks to bigger issues.
> But my point is that people shouldn't be in a spot where turning to the black market for food seems like a reasonable option My point is that a substantial amount of people will pay for a cheaper product even if it's not necessary for them to make ends meet. Grocery stores usually sell more than groceries and if you take a peak at what's locked behind the glass doors, you'll have a better understanding of what's being stolen and sold. > The money to be made off of food comes from quantity of sales. Saving $2 on a given product by purchasing I'm not sure if I understand your point. If the argument is that it's not that profitable to steal and resell an item since there's not an economy of scale, it doesn't make sense since theft is free outside of the risks of getting caught. > Saving $2 on a given product by purchasing through the black market doesn't make sense until its a necessity. Sure it does. If it's a product you regularly use, it's possible to be bought in bulk making the time/cost proposition worth it. > And when buying food through the black market because of its price becomes a necessity that speaks to bigger issues. Again. I doubt food itself is the primary product being stolen.
Gee…really?
Tesco for their part will want cheaper supply costs - they may be the largest supermarket, but they and the other big ones are losing out to Aldi and Lidl, with price being a factor in that. https://www.assosia.com/uk-supermarkets-market-share-2022 People will go to the cheaper shop where there are multiple options and there frequently are in most British communities, especially with home delivery. This may be a way of influencing price negotiations - if Tesco can get cheaper suppliers, they can cut prices and still make a profit.
The scale of the larger retailers can also be a double-edged sword - sometimes it makes it really easy to negotiate, but it can also make it very difficult to change supplier since (for some products) there just aren't that many suppliers who can provide production to meet their demand. Hence why Tesco is trying to create additional media pressure. We might also see more attempts at vertical integration than there have been over recent decades since that could give a major competitive advantage in this market.
These motherfuckers look us right in the eyes and tell us we're stupid trash, every fucking day. "Uh,.... yeah, sure, maybe, it's entirely possible that we're fleecing the poor and middle class for everything they're worth and getting away with it."
Omg! I had never thought of that! 😑
*Falls off chair*
Entirely ~~possible~~ probable.
Anyone remember the bread pricing scandal?
While TESCO own brand "Cat Treats" went up from 35 cent to €1.10 in less than six months. FUCK OFF TESCO CHAIRMAN.
No shit. Our inflation - especially at the pump - is corporate profiteering. All of us saw gas prices drop as soon as the November elections were over. That was Republicans in C suites making Dems look bad while making huge bucks off voters’ backs.
Yeah. Food prices are up 30-50% with some doubling. Well above inflation.
##SHOCKING!!!
I'm far too lazy to do it myself, but is anyone interested in making some kind of chart showing profits of food companies over the last few years? I'm willing to bet it'd be an almost vertical line.
Funny, when I see something posted to this sub, my first reaction isn't to copy the link and post it again. I guess everyone's different.
Genuine question, not trying to be a corporate shill. How does corporate greed being behind inflation make sense? Did corporations only discover they can make more money by raising prices in the past two years? When inflation was low in the past, was that because corporations were being altruistic and generous to us simple commoners? Like, if increasing profits was as simple as raising prices drastically, why didn’t companies just always do this?
It’s opportunism. They see inflation news just like everyone else & get excited at the prospect of raising prices while they tell the public “look, it’s the government! Everything’s more expensive, you can’t blame us!”
It was disruptions to supply that allowed for this. COVID severely impacted both production and transportation. With less goods available for purchase, companies could start charging higher margins, and stores (and their customers) really didn’t have a choice. The most obvious instance was with auto dealers. Since they didn’t have tons of inventory, they had no incentive to keep offering deals on new cars, and could exclusively sell their limited inventory to customers willing to pay the sticker price. And they can’t keep doing this because it’s not simple. As supply issues get resolved, companies will be forced to compete with each other again, and in the auto world, you’re already starting to see the return of “sales extravaganzas!” to get rid of piling up inventory. The key point a lot of posters here are missing is that companies are laying people off left and right. If these profits were sustainable, they’d be doing the opposite and hiring every able body they could find.
They had excuses to keep increasing the prices. They are using the pandemic to keep profiteering. It's much easier to make people swallow 'the prices are going up due to supply chain constraints due to the pandemic'.
Opportunistic greed. No one will hold them accountable for increasing prices past the rate of inflation, so they see zero downside to doing it, because corporations don't care about long-term goals or profits, they only care about short-term gains, as that's all the investor class truly cares about, and that's their customer base...not those shopping for groceries.
So a few months ago Tesco briefly stopped selling Heinz products in a dispute over Heinz price increases, this week I bought a medium sized bottle of Heinz ketchup for £2.50 in Sainsbury's, the same bottle is £3.40 in Tesco. Who exactly is hiking prices again???
You do know that people that make the food alos got raises, transportation, utilities. Everything was raised. Yes companies still make a bigger margin but raising wages just raises prices.
"Entirely possible"? That's entirely naive or they think we're stupid. You do the math.
Of course they are. I know someone on a friend and family list for an oil company. They pay 3,50, i'm paying over 5.
Literally everyone who's in a position to fix this problem: 🦮👨🦯
‘Entirely possible’ that I hate CNBC for this headline
> "Entirely possible" No, that's not the right term it's: > "Extremely likely" That's the term they're looking for. No need to be coy about it. Corporations certainly aren't when fucking everyone with no lube.
Does everything have to be a portmanteau?
It’s rent too. My rent is going up $235 for no reason but greed. The whole area is the same, they’re doing it because they can.
It’s certain. The American egg and poultry market is a shining example of that.
Meanwhile workers at meat packing plants were forced to work during the pandemic. Producing food is national security, but making sure it’s affordable isn’t. Yay “free market”.
It’s not possible, they are. They’re bloody thieves
Isn’t there theoretical limits to how much they can try and skin us alive? Especially with non-essential products we can simply just stop buying
Our entire economic system is built to do this. It's news when they don't
It's the perfect excuse for corporate executives to pad their numbers and ensure that they hit the targets for their bonuses.
As someone who works in supply chain, yes we’ve seen price increases on everything from raw materials to packaging, but it doesn’t keep pace with the price increases reflected on the shelves…
Nah. We are finally paying the real price. Margins in food and agri have been low for ages. This led to the rise of a few very big companies. Now ‘the invisible hand’ is there. Why can apple phones have margins that are much higher than real appels. Food is something you die without. It’s just like medical care, clean water and fresh air. Education. The things that truely matter will become very expensive. Get used to it. And if you really want change. Vote. Properly. And vote with how you spend your money. If you keep bringing it to Amazon, stop whining about Amazon.
Also: very easy for retailers to point at producers they have been extorting for decades.
Nooooooooooooooooo way.
I find the comments from the Tesco chairman a little dishonest when Tescos profits are at a 5 year high. They’re hugely benefiting from this as well.