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Consumers making substitutions is how an economy functions. I do not eat caviar toast at every meal, sometimes I have to settle for potatoes. But we are not see
by legitster 3y ago
Consumers making substitutions is how an economy functions. I do not eat caviar toast at every meal, sometimes I have to settle for potatoes. But we are not seeing massive consumer shifts to lower priced options - if anything luxury products and segments are the fastest growing right now.
- iinnPP 3y agoBecause a lot of the people who were wealthy before the pandemic are now even more wealthy.
- s1artibartfast 3y agoThere has to be a better explanation than extra spending by the wealthy is replacing spending by the poor in such a diverse set of consumer goods and services. I don't think Bezos and Musk are eating all the eggs and butter, driving up the price.
- iinnPP 3y agoIm talking about the people who are not struggling right now. All of them.
- s1artibartfast 3y agoOK, so you agree that most consumers have more money and therefore are willing to tolerate higher prices. This seems like the only explanation given that a minority of consumers cant eat all the eggs, beans, and produce to drive the market.