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This is a very unfortunate trend where sellers are selling not based on the value of the item/service, but demand/need of the consumer. It has been a common pra
by israrkhan 10y ago
This is a very unfortunate trend where sellers are selling not based on the value of the item/service, but demand/need of the consumer. It has been a common practice in airline industry, and upto some extent in healthcare. But now this practice is creeping into online shopping too. This can soon fall into unethical territory. Imagine an item, that costs $1. Just because it could be life-saving for someone, or someone needs it badly, you sell it at much higher premium. You are not charging for your service, but exploiting other people need.
- bognition 10y agoyou've just described capitalism
- pmorici 10y agoOr price gouging. In capitalism if the price rises too high sellers should be motivated to bring more supply to the market.
- alasdair_ 10y agoAssuming the seller lacks a monopoly, that is exactly what happens.
- ubernostrum 10y agoAlso, most people don't really understand how airlines price their tickets, and so assume some sort of "we're watching and will raise the price on you" scheme when there are more mundane explanations available.
- liotier 10y agoIt is called "yield management" : https://en.wikipedia.org/wiki/Yield_management https://en.wikipedia.org/wiki/Yield_management - it is a commercial technique which is not specifically capitalist.
- an_account 10y agoThat's always been true, nothing new to online shopping. If there's a large profit margin other companies will come in and undercut the price.
- refurb 10y agoSupply and demand is the underpining of a market. It's nothing new at all.
- copperx 10y agoI believe OP was referring to price discrimination and not supply/demand. e.g., as if Amazon raised all wound care products instantly for you after you made a search for "band aids." A grocery store with e-ink prices could raise the prices for bottled water instantly after a natural disaster.
- ikeboy 10y agoAmazon does not engage in price discrimination. They change their prices for everyone, millions of times a day.