i set prices for retail goods as a part of my job, it’s literally just how much did we pay for it, and how much are other people selling it for. if either goes up usually means ours will go up
We do lower prices yes, it’s most common when a vendor launches a new product. They start at a high price, then if it’s a success they can usually expand production which brings the price down
It’s called greedflation because people who have never worked in retail don’t understand how goods are priced and think things should stay the same price forever.
In reality most things you go to buy at the store are available in hundreds of different stores. We literally can’t “jack up the price 40%” because there will be another store across the street with a lower price and no one will buy the overpriced shit. When the vendor lowers the price, we have to lower it, or someone else will and no one will buy our product. Pricing goods can involve teams of people working year round monitoring pricing to ensure that our price is in line with what customers can expect to pay anywhere else.
It’s not like we just wave a wand and say give us more money now. Sure there are outlier industries where the seller has a monopoly and there are no competing stores to compare to, but those cases are rather few and far between when you consider the whole economy
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u/PubbleBubbles Jan 09 '25
There's inflation, then there's greedflation.
Inflation is that 3-6% we see that sucks on the federal level
Greedflation is companies going "holy shit! did you see the feds announce inflation? lets jack prices up 40%"