fair price-v-what the market will bear

unit 1

Ok so in these recessionary times we continually hear about, value for money, a fair price, bogof, big discounts, low margins, price cuts, etc etc etc.

When if ever will people realise that retailers will always charge "what the market will bear", and that claims of the above kind are at best dishonest, soemtimes even contemptuous of the general public. "Low profit margin" claims by retailers have been blown out of the water in the last while yet greedy retailers cannot be punished by the consumer (as they have already paid for their overexpensive goods)

This may seem like a rant but will the consumer be able to determine future prices by the way they act now, or will current wage levels set the trend for future prices, which would mean a long period of deflation.

BTW amazingly harvey norman (just one example) is still here in famine Ireland, so is he still making money or what. (maybe it's he's "fairly priced" monster cables that's keeping him afloat.

sunnysoutheast

What is your point, issue or concern?

Companies charging the maximum price for their goods is nothing new. Supermarket tactics such as BOGOF etc. are fairly transparent if you know where to look.

Usually prices charged bear no relation to the wholesale cost of the goods plus overheads, maybe ask yourself why TVs for example often come in very convenient €599, €699, €799 increments.

SSE

dudara

What is the Consumer Issue here? This forum is created for specific issues. Thread moved to Economics.

dudara