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Author Topic: Things that made you go "WTF?" today o_O  (Read 6178582 times)

Loud Whispers

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Re: Things that made you go "WTF?" today o_O
« Reply #136845 on: August 21, 2018, 06:37:34 am »

Such competition falls apart when you involve large corporations with sufficient clout needed to manipulate supply and demand, creating artificial demand or artificial gluts or scarcity in commodities or products as is necessary - diamonds for example. Outright monopolies too can act with impunity for as long as they face no antitrust lawsuits, while a monopoly is not even necessary for price fixing between businesses which are acting in deliberate or intuited collusion. For example there has been a recent long debacle surrounding milk prices in the UK, wherein all of the large retailers maintained the same policy with their competitors regarding purchasing milk at prices which put British farmers at a loss with every unit sold; but nevertheless raising prices on British consumers for an even greater increase in profits. A corporation doesn't need to cooperate with its competitors to see that its competitors aren't lowering their prices, and subsequently there is no need for them to lower theirs either. In such an instance, overpricing doesn't bite them in the arse, and consumers can go fuck themselves.

Reelya

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Re: Things that made you go "WTF?" today o_O
« Reply #136846 on: August 21, 2018, 06:54:38 am »

Even with price fixing, overall sales will drop if the price is too high, so too-high prices are still counter-productive to making money.

What competitive pricing does is drive prices lower than the optimal profit-point overall.

Kagus

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Re: Things that made you go "WTF?" today o_O
« Reply #136847 on: August 21, 2018, 06:59:05 am »

There's a Norwegian chain grocer down the way, one of the select few predominant food chains in Norway. This chain brands itself with low prices, and particularly low prices on fresh fruits and vegetables. Appropriately, their color scheme is bright green.

This store just completely ignores the existence of the non-chain Turkish grocer right across the street from me, despite the Turkish place having a vastly larger variety of greens at much lower prices. I remember in particular there was a special deal over at the Norwegian store, Kiwi (yes, it's a bright green store focusing on fruits and vegetables, and it's called "Kiwi"), for Pakistani mangoes. The special was that, normal price per mango was 15kr a piece, but you could buy two for 20kr.

On my way home, I walked past the Turkish place and saw that they were also selling Pakistani mangoes. 5kr per each.


The thing is, Kiwi is an entrenched brand, and Norwegians are highly skeptical of anything (and anyone) that they didn't grow up knowing. So Kiwi can freely charge two to three times as much as the other store simply because they know they can get away with it. They don't have to care about the competition, because it's not really competition.

As for competition between the primary grocery chains in Norway, that's not really a thing because all the chains are owned by the same supergroup... Because that's fine, apparently.

Reelya

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Re: Things that made you go "WTF?" today o_O
« Reply #136848 on: August 21, 2018, 10:33:06 pm »

Again, the point is that competition isn't the point.

If the store Kiwi changes their own prices, they know that this will affect sales up or down. So they set all prices at the medium-point which give themselves the best profitability. "gouging" is counter-productive, because you lose money, regardless of competition or no competition. Stores don't want to get the "most per sale possible" they want to balance selling a lot with making money, so prices remain in a medium range no matter whether there's direct competition or not.

e.g. say I have the only store in town that sells bananas, so I go "hahah! $100 per banana, suckers!" ... then, people just won't buy any bananas, and I end up losing money. There's a "sweet spot" between giving it away at cost (no profit) and charging too much (also, no profit), and that's the price point shops look for. "competition" only shifts this price-point a little: the main determinant of price is the game played between customers and the store.
 
The only time pure price-gouging is really profitable is when people have no choice but to buy - such as selling bottled water in the desert. Or selling insulin to diabetics, which is effectively the same thing.
« Last Edit: August 21, 2018, 10:46:06 pm by Reelya »
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Yoink

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Re: Things that made you go "WTF?" today o_O
« Reply #136849 on: August 21, 2018, 10:44:52 pm »

Maintenance mode is over at last.
Anyone got any idea what that was about?
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hector13

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Re: Things that made you go "WTF?" today o_O
« Reply #136850 on: August 21, 2018, 10:46:07 pm »

Maintenance, obviously. The clue’s in the name, Yoink :p

For serious though, no idea.
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Rolan7

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Re: Things that made you go "WTF?" today o_O
« Reply #136851 on: August 21, 2018, 10:49:28 pm »

The message changed from "brief maintenance" (iirc) to maintenance about a thousand bajillion hours ago.

Honestly good communication and, as far as I can tell, good backups.
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smjjames

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Re: Things that made you go "WTF?" today o_O
« Reply #136852 on: August 21, 2018, 11:42:30 pm »

Eep, had a 504 error momentarily for the forum, thought it was going down again.
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KittyTac

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Re: Things that made you go "WTF?" today o_O
« Reply #136853 on: August 22, 2018, 12:05:02 am »

Check the Happy thread, Toady made a post there explaining everything.
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Yoink

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Re: Things that made you go "WTF?" today o_O
« Reply #136854 on: August 22, 2018, 01:26:02 am »

Oh gods, my willpower has failed me. What have I done?! They were just sitting there at the supermarket looking so damn sexy, how could I resist? I'd been so good...

Spoiler: Pray for me (click to show/hide)
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JoshuaFH

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Re: Things that made you go "WTF?" today o_O
« Reply #136855 on: August 22, 2018, 01:39:07 am »

I want to know what these products are, I have a vague idea of what crumpets are despite being American and thus genetically engineered to be ignorant of foreign cultures, but on the right, is that... cheese? Never seen cheese like it but it makes sense.
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Reelya

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Re: Things that made you go "WTF?" today o_O
« Reply #136856 on: August 22, 2018, 01:55:15 am »

Those are the crumpets, not cheese.

You stick the crumpets in the toaster, they have a very crunchy base, and those holes on the top. You put butter on, and it melts into it. Toast just doesn't compare, although I think crumpets are way more unhealthy for you to eat all the time than toast. They're one of those "incredibly unhealthy but totally worth it" things, but you need to toast them until they're crunchy and melt butter into them.

They're probably the most worthwhile British food you could go and look for. They make muffins taste like sawdust in comparison.

BTW Yoink, Aldi sells 6 round crumpets for $1.
« Last Edit: August 22, 2018, 02:16:49 am by Reelya »
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Tack

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Re: Things that made you go "WTF?" today o_O
« Reply #136857 on: August 22, 2018, 02:37:14 am »

Do you wear a sea shepherd beanie around most places?
I mean, I can't think of anyone who would be particularly against it, but heck.
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Kagus

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Re: Things that made you go "WTF?" today o_O
« Reply #136858 on: August 22, 2018, 03:04:35 am »

Do you wear a sea shepherd beanie around most places?
I mean, I can't think of anyone who would be particularly against it, but heck.
I can. You wear that onto the Faroe islands, you're getting kicked out again. Sea Shepherd is registered as a harmful terrorist organization there.

dragdeler

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Re: Things that made you go "WTF?" today o_O
« Reply #136859 on: August 22, 2018, 03:21:55 am »

-snip-
« Last Edit: January 18, 2019, 02:23:24 pm by dragdeler »
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