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Retail prices are generally pretty sticky - if the wholesale price persists, they'll come down, but it'll take time.
by curiousllama 3y ago
Retail prices are generally pretty sticky - if the wholesale price persists, they'll come down, but it'll take time.
- quadrifoliate 3y agoI hope they come down -- I have reduced my restaurant spend considerably since restaurant (even chain) prices went up by 30-50% in my area compared to pre-Covid. Maybe I'm too price-conscious, but I'd expect demand to go down over time as the rising interest rates affect daily life.
- curiousllama 3y agoYea for sure. This is the recession & deflation folks have been asking for.
- Analemma_ 3y agoIt's not gonna happen. Labor costs determine the price of restaurant meals way more than wholesale food costs do. Those have gone up and probably are not ever coming back down; wages are a one-way ratchet in all but the most extreme circumstances.
- listenallyall 3y agoI'm like you, however it sure seems that the proliferation of DoorDash and the rest proves that plenty of people are entirely price-insensitive. Expensive base prices + 20-30% in fees. Personally, I think there's a lot of overlap between heavy DD users and people on social media complaining publicly about how tough it is to make ends meet. Just a guess.