3 ms·
It's probably not greed like in a supervillain way, it's more of the following (which I've heard almost verbatim multiple times from business owners): "Our c
by efsavage 3y ago
It's probably not greed like in a supervillain way, it's more of the following (which I've heard almost verbatim multiple times from business owners):
"Our costs have gone up 7%, so we should raise prices"
"How much?"
"How about 10%?"
"Sounds good"
- crazygringo 3y agoThere's nothing wrong with that because you're expecting costs to continue increasing but you might be locking in the price you charge for the next year. That's the problem with attacking inflation -- it's not about changing current conditions but about changing expectations.
- SirMaster 3y ago>There's nothing wrong with that because you're expecting costs to continue increasing but you might be locking in the price you charge for the next year. Ha, if only. The company I work for has increased their prices about a 10 times in the last 2 years.
- crazygringo 3y agoThen that's fantastic they've got that flexibility. But then it's probably a fair assumption they didn't increase their price by 10% each of those 10 times, unless they're in a very small subset of industries. But other companies sign one-year contracts with customers, for example. There's no need to be snarky about it.