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I think this was always true, but maybe many companies realized that they were playing it too safe and conservative with price bumps? What changed (besides a g
by tiborsaas 3y ago
I think this was always true, but maybe many companies realized that they were playing it too safe and conservative with price bumps?
What changed (besides a good excuse) is big data being and analytics being much easier to obtain and manage. If people can't get the same product category cheaper anywhere else and they keep buying it then of course the will raise more aggressively.
I feel the market will eventually correct if "greedflation" is real. Someone must come along and say that they are happy with X% less which is theoretically possible, to capture a market more aggressively and use this narrative as a marketing tool.
I know it's easier said than done when there are few players in an industry and the barrier to entry is rather high.
- adamwong246 3y agoMy cynical take is that, in this market, "human work" is cheaper than the cost of "human living". There's no real malice, just supply and demand. We've automated all our labor but we expect our workers to be ever more productive. Of course that can't be sustained, eventually the average value produced by a worker exceeds their cost of living. And then... IDK what happens next.