• ID411@lemmy.dbzer0.com
        link
        fedilink
        arrow-up
        71
        arrow-down
        1
        ·
        2 months ago

        It was almost comical the way they all rode the inflation train. Like they all went to same business school and learned exactly the same thing about pricing strength .

        Either that, or they were fact a cartel

        Will we ever know ?! 🤷‍♂️

        • DominusOfMegadeus@sh.itjust.works
          link
          fedilink
          arrow-up
          13
          ·
          2 months ago

          Amazon, Walmart, and Target finally realize their colossal pricing mistake—now they’re slashing costs to win back customers

          We will. It was the second one.

      • ours@lemmy.world
        link
        fedilink
        arrow-up
        31
        ·
        2 months ago

        And now they expect us to go into a spending spree with these “new amazing low prices”.

        • dual_sport_dork@lemmy.world
          link
          fedilink
          arrow-up
          41
          ·
          2 months ago

          I think they ought to prepare for disappointment.

          One thing the pandemic “shortages” taught me is that in most categories I really do have enough stuff already.

          • Jaysyn@kbin.social
            link
            fedilink
            arrow-up
            17
            ·
            2 months ago

            The pandemic made me a much better cook. I wasn’t bad before, but now I can do it without wrecking the kitchen.

        • The_v@lemmy.world
          link
          fedilink
          arrow-up
          12
          ·
          2 months ago

          Oopsy, the credit cards are maxed out already due to their gouging So purchasing will remain low until credit card debt declines.

          Oh wait, that’s not going to happen anytime soon because the landlords are price fixing.

  • Ensign_Crab@lemmy.world
    link
    fedilink
    English
    arrow-up
    166
    arrow-down
    2
    ·
    2 months ago

    Amazon Fresh just became the latest big-box retailer to cut costs on thousands of items, following in the footsteps of Walmart and Target in reversing course on years of inflation-induced price hikes

    Greed-induced. Inflation-excused.

    • iopq@lemmy.world
      link
      fedilink
      arrow-up
      3
      arrow-down
      32
      ·
      2 months ago

      Corporations are always greedy, so this factor never changed. It could not have been the cause of inflation, since we had greedy corporations and more inflation before.

      • stembolts@programming.dev
        link
        fedilink
        arrow-up
        22
        arrow-down
        1
        ·
        2 months ago

        I want to point out that your reasoning is irrational which makes your conclusion nonsense.

        You didn’t root cause or analyze anything, then declared yourself to be right “because”.

        Here I’ll show you, let me use your method to “prove” something.

        “The Potato Party has always been in charge in Tombo County, the hungry kids in schools are not the fault of The Potato Party because kids here have been hungry before.”

        We can “prove” so many things this way!

        • iopq@lemmy.world
          link
          fedilink
          arrow-up
          1
          arrow-down
          14
          ·
          2 months ago

          The Potato Party could have changed its policies, so your comparison is not apt. Corporations have never been not greedy, so what changed?

          • Ensign_Crab@lemmy.world
            link
            fedilink
            English
            arrow-up
            8
            ·
            2 months ago

            The pandemic, constant coverage of inflation giving them a shield to raise prices and blame inflation even when their SEC filings indicate that this is complete bullshit, and crucially greater consolidation resulting in fewer options for grocery shoppers.

            • iopq@lemmy.world
              link
              fedilink
              arrow-up
              1
              arrow-down
              4
              ·
              edit-2
              2 months ago

              Yes, so the issue was people could afford to pay more when they got their stimulus. Which is the point of the stimulus, it worked 100%

              The question is whether the skeptics that said the stimulus would cause inflation were right. Is it the corporate greed or does giving everyone money increase prices?

              • ieatpillowtags@lemm.ee
                link
                fedilink
                arrow-up
                3
                ·
                2 months ago

                No, that’s not what the issue was. The stimulus was a drop in the bucket, and I think it’s insane to talk like people “have more money now” because they got a check for like a thousand dollars 4 years ago. That shit was gone the week after it was given, probably to rent in most cases.

                The price increases were blamed on supply chain issues, which did exist, but not to the degree that could justify the increase.

                • iopq@lemmy.world
                  link
                  fedilink
                  arrow-up
                  1
                  arrow-down
                  2
                  ·
                  edit-2
                  2 months ago

                  There were several stimulus checks, so maybe some people spent it on rent and some saved it and spent it on going out when the shutdowns were over

                  You can see that people spent a whole lot more on food in 2022

          • Masterbaexunn@lemmy.world
            link
            fedilink
            arrow-up
            6
            ·
            2 months ago

            Probably that the greedy became greedier. Greed isn’t exactly linear, it’s exponential. It used to be:

            Boss makes a dollar, I make a dime

            Today’s version goes something like:

            Boss makes a million, I don’t make jack

      • hark@lemmy.world
        link
        fedilink
        arrow-up
        7
        ·
        2 months ago

        The greed is constant, but the opportunities to excuse price increases are not. Egg prices jumped up about 6x because they had the excuse of bird flu, but the prices magically went down (but stayed elevated) after the government threatened an investigation. As ineffectual as our government has been made, increasing prices out of nowhere with no plausible excuses will invite an investigation.

        • iopq@lemmy.world
          link
          fedilink
          arrow-up
          1
          arrow-down
          1
          ·
          2 months ago

          So my point is instead of blaming greedy corporations, we just discussed possible causes and solutions. Isn’t this a more constructive conversation?

          • hark@lemmy.world
            link
            fedilink
            arrow-up
            1
            arrow-down
            1
            ·
            2 months ago

            You admit that corporations are always greedy, so how is out of the realm of possibility that an excuse like supply chain issues (which have since been resolved) would provide the perfect opportunity for these greedy corporations to jack up prices far beyond those underlying causes and get away with it?

        • iopq@lemmy.world
          link
          fedilink
          arrow-up
          1
          arrow-down
          1
          ·
          2 months ago

          So my point is instead of blaming greedy corporations, we just discussed possible causes and solutions. Isn’t this a more constructive conversation?

      • Cryophilia@lemmy.world
        link
        fedilink
        arrow-up
        3
        ·
        2 months ago

        Corporations all raised prices at the same time. No competition to offset the greed. Normally that level of coordination is impossible among different companies, at least some would keep prices lower to retain customers.

        • eskimofry@lemmy.world
          link
          fedilink
          arrow-up
          2
          arrow-down
          1
          ·
          2 months ago

          Normally that level of coordination is impossible among different companies, at least some would keep prices lower to retain customers.

          The biggest con in the world. You would think people are not capable of organizing for a common cause.

          That level of coordination IS possible when all you need is a bunch of CXOs and investors in a union.

          You think collusion to keep prices is not possible? Does that people people agreeing on a specific set of laws and policies living in a demarcated region (a country) is not possible?

  • whotookkarl@lemmy.world
    link
    fedilink
    arrow-up
    114
    ·
    edit-2
    2 months ago

    About two years too late for me to accept apologies on post pandemic price gouging, already cancelled prime and use local groceries over corpo stores. In general they have better quality of selection and prices most of the time, plus it encourages me to explore more variety of small groceries from other cultures, farmers markets, etc.

    Similar with fast food if you want to charge me 16 bucks for a meal I’m going to an actual restaurant instead

    • Track_Shovel@slrpnk.net
      link
      fedilink
      English
      arrow-up
      57
      arrow-down
      2
      ·
      edit-2
      2 months ago

      look at this fucker, with his local grocery stores. They’re all but extinct out here on the prairies

      • whotookkarl@lemmy.world
        link
        fedilink
        arrow-up
        17
        ·
        2 months ago

        Yeah definitely a privilege of living in a pretty densely populated area with lots of options and even here some have closed, including some of the larger populations of Asian and middle eastern immigrants in the area running many of the smaller shops.

    • Dkarma@lemmy.world
      link
      fedilink
      arrow-up
      24
      arrow-down
      1
      ·
      2 months ago

      The chain stores are more than the co-op stores in my area too. And with summer coming farmers markets are definitely a better value AND quality option, too

      • RvTV95XBeo@sh.itjust.works
        link
        fedilink
        arrow-up
        19
        ·
        2 months ago

        Due to impacts of COVID 19 on the supply chain, the bridge price has doubled again, and lead time is now 18 years.

        If you have questions about your purchase, you can call our support line, but please know were experiencing longer than usual wait times due to the pandemic - we anticipate your current wait time at the heat death of the universe.

  • DominusOfMegadeus@sh.itjust.works
    link
    fedilink
    arrow-up
    49
    ·
    edit-2
    2 months ago

    Big-box stores lowering prices wasn’t an altruistic move to throw customers a bone during tough times. Retailers have suffered from weak sales due to customers’ struggle with high prices. Target reported a 3.1% drop in net sales from a year ago and a 3.7% quarterly dip in comparable sales, marking its fourth consecutive quarter of declines. Though Walmart has continued to soar, it owes much of its 6% revenue growth to its e-commerce successes and wealthy customer base, the latter of which makes up a growing chunk of its audience.

    This trend has continued in fast food, with McDonald’s, Wendy’s, and Burger King all announcing meal deals following earnings reports that suggest customers are losing their taste for high-priced fast food, including $18 Big Mac meals and threats of surge pricing.

    No one could have anticipated this outcome

    • Jaysyn@kbin.social
      link
      fedilink
      arrow-up
      26
      ·
      2 months ago

      Due to this fuckery, my family will literally never by fast food again unless we are traveling.

      • eltrain123@lemmy.world
        link
        fedilink
        arrow-up
        30
        ·
        2 months ago

        Pack a cooler with sandwiches, take bags of trail mix and other healthy snacks, and drink water from refillable bottles.

        Fuck the leeches. Live healthier, cheaper, more satisfied lives by cutting out the “convenient” fast food that costs too much, fails on nutrition, and makes you feel bloated and gassy. Prep doesn’t take any longer than stopping along the road to order and get your food, and you can still stop at rest areas for a picnic in an actually enjoyable environment if you want.

        Been traveling on the road for about a year. Life got better when I started prepping my meals and stopped eating garbage.

        • I_Has_A_Hat@lemmy.world
          link
          fedilink
          arrow-up
          8
          arrow-down
          1
          ·
          2 months ago

          Or maybe get creative with your meals because, as someone who grew up with endless long road trips, what you just described are some of the most depressing meals you can get and after a couple days most people will be so sick of cold, sad, sandwiches that they’ll be desperate for ANYTHING else.

          • eltrain123@lemmy.world
            link
            fedilink
            arrow-up
            10
            ·
            2 months ago

            I make a lot of different sandwiches before I hit the road… I guess I interchange them with wraps/burritos, too. Not just cold cuts, but leftover curries and stews smashed between bread, eggs and sausage/bacon, salad wraps… mixing and matching with different sauces and spices helps a ton. If you have the time to toast the bread or tortilla, it makes a big difference. I pick a different cuisine to use as a base for every drive… Indian, Asian, American, Italian, Mexican… you can keep it fresh.

            It’s mostly just about preparing a transportable meal. I guess I also carry soups, curries, chili, gumbo, and stews in a thermos. I usually try to stay in airbnbs or suite hotels that have a kitchen, but often just use a microwave. Sometimes i use microwaves at gas stations to heat up a meal, but that’s not always an option.

            The only thing I make sure to do is have something to prevent me from giving McDonald’s or Taco Bell $20 for garbage.

        • iopq@lemmy.world
          link
          fedilink
          arrow-up
          1
          arrow-down
          6
          ·
          2 months ago

          How is trail mix a healthy snack? It’s just some bread-adjacent carbs with extra flavorings. It’s literally the same as any other junk food

      • skuzz
        link
        fedilink
        arrow-up
        6
        ·
        2 months ago

        Cross-country road trips now have the sandwich fixings stored in a cooler in the car. Pre-make the next day’s sandwich the night before and toss it in the cooler.

        Honestly it’s much nicer sitting at a picnic table at a rest area, which generally has nice views, than going into a restaurant or eating drive-thru in the car.

        At least the pandemic had some silver linings, would not have necessarily thought to do this otherwise.

    • Drusas@kbin.run
      link
      fedilink
      arrow-up
      12
      ·
      2 months ago

      Though Walmart has continued to soar, it owes much of its 6% revenue growth to its e-commerce successes and wealthy customer base, the latter of which makes up a growing chunk of its audience.

      wtf

      • alessandro@lemmy.ca
        link
        fedilink
        arrow-up
        2
        ·
        2 months ago

        Whale economy as seen in f2p games.

        Starve the community around you with higher prices, make all your money with the few who buy bottled mineral water for car wash.

  • Snapz@lemmy.world
    link
    fedilink
    arrow-up
    40
    ·
    2 months ago

    “I promise I’m not gonna hit you baby if you come back, honest i won’t. You know i just get excited because i love you too much…”

  • tsonfeir@lemmy.world
    link
    fedilink
    arrow-up
    41
    arrow-down
    1
    ·
    2 months ago

    Nah. I’ve already gotten used to not buying random crap anymore. I’d rather have the cash.

    • Drusas@kbin.run
      link
      fedilink
      arrow-up
      14
      ·
      edit-2
      2 months ago

      These are stores which also sell necessities, not just random crap. Based on the article, it sounds like mostly food is having its prices scaled back.

      • FrostyTheDoo@lemmy.world
        link
        fedilink
        arrow-up
        12
        ·
        2 months ago

        And they rely on selling both to be profitable. But now their customers are used to not buying the latter (random crap) so that they can afford the former. And the retailers are realizing they may not begin buying random crap again even when prices decrease, because life without the random crap isn’t much different.

  • Olhonestjim@lemmy.world
    link
    fedilink
    arrow-up
    30
    ·
    2 months ago

    I hear those big box stores will shut down immediately if someone, anyone, just scatters union pamphlets around the store.

    • Tronn4@lemmy.world
      link
      fedilink
      English
      arrow-up
      18
      ·
      2 months ago

      Exactly. Local Walmart (Pico Rivera, ca) shut down for “plumbing” issues for 8 months when union activity started. The building was less than 10 years old

  • orcrist@lemm.ee
    link
    fedilink
    arrow-up
    25
    ·
    2 months ago

    It wasn’t a mistake. Did they make money? … Checks notes … lots of it.

  • ...m...@ttrpg.network
    link
    fedilink
    arrow-up
    23
    ·
    edit-2
    2 months ago

    …i quit shopping brick-and-mortar after target routinely charged more in their stores than online + shipping…

    • bouldering_barista@lemmy.world
      link
      fedilink
      arrow-up
      10
      ·
      2 months ago

      They’ve even started getting worse with their apps. I got a notification recently that one of the apps (target) will have fluctuating prices. My understanding is it’s demand based increases. While walking around the store one time I looked at items in the app and most of them were higher than on the shelves.

      They’ve spent years pushing people to get comfortable with app shopping and easy pickup… Now they’re going to squeeze every penny out of that crowd that they can.

  • 𝙚𝙧𝙧𝙚@programming.dev
    link
    fedilink
    arrow-up
    23
    arrow-down
    1
    ·
    2 months ago

    I walked into a Whole Foods for the first time a little while back for an Amazon return, I saw the $9 gallon of milk and walked right out.

    Hopefully the price slashing is significant.

  • hash@lemmy.world
    link
    fedilink
    arrow-up
    12
    ·
    2 months ago

    Anyone noticed a pricing difference with “local” grocers? Obviously there aren’t many left and at least in my area they rely on a regional distributor that’s pretty consolidated. Just curious if they’ve been treating consumers any better.

    • clif@lemmy.world
      link
      fedilink
      arrow-up
      22
      ·
      edit-2
      2 months ago

      The spouse does most of the shopping but I was in a Harps the other day and saw that a medium (shrinkflated) bag of Cheetos was $8.75 USD.

      Harps isn’t super local but… Holy shit. Who can afford Cheetos at that price? I used to buy them as an occasional treat but fuck that noise.

      EDIT: for fun I just searched Walmart and they’re $5.94 there. I’m still not spending that much for a garbage treat.

      • ki77erb@lemmy.world
        link
        fedilink
        arrow-up
        4
        ·
        2 months ago

        Don’t worry. They’ll be “marked down” to regular price (still overpriced) on the sell-by date so people think they’re getting a deal.

    • Drusas@kbin.run
      link
      fedilink
      arrow-up
      6
      ·
      2 months ago

      The local grocers that I shop at are all Asian, but aside from the big Japanese one, they are all far cheaper than the big stores, especially when it comes to meat and produce.

      • projectsquared@lemmy.world
        link
        fedilink
        arrow-up
        2
        ·
        2 months ago

        Interesting. All the local shops here are far and away more expensive than the chains. I want to shop local, but everything looks to be 20-30% higher. I can’t justify it.

        • Drusas@kbin.run
          link
          fedilink
          arrow-up
          2
          ·
          2 months ago

          Do you have any local shops that cater to an immigrant community, such as Asian, Hispanic, African…? These tend to be so much cheaper than what I think of as “white people grocery stores” (Safeway, Albertsons, Publix, whatever is in your region). They might not have everything you’re looking for, but they’re fantastic sources for fresh food.

          P.S. To be clear, I don’t actually think that those big name stores cater exclusively to white people. I just go to a lot of Asian stores and I needed a way to easily communicate to my husband which kind of store I’m going to (he likes to ask for ice cream and frozen pizzas that they don’t have at the Asian stores), and that’s what evolved for us.

          • Buddahriffic@lemmy.world
            link
            fedilink
            arrow-up
            3
            ·
            2 months ago

            This pattern can sometimes be seen even in the same store when you look at things in other aisles vs the international aisle. Early in the pandemic, I was expecting food supply to get disrupted and decided to stock up on some spices while they were still available. A large bag of cumin (like 1kg) in the international aisle was about the same price as a 250g cumin package in the spice aisle, and both were cheaper than a plastic shaker filled with like 100g.

            I’m not sure if that’s still the case though. I’m still going through that 1kg of cumin today, glad that I opted for the whole cumin seed instead of ground because the whole seeds last longer.

    • Flying Squid@lemmy.world
      link
      fedilink
      arrow-up
      4
      ·
      2 months ago

      I got a 6-pack of a Korean drink I enjoy called Milkis in an Asian grocery for about the same price as a 6-pack of Coke at a Kroger.

      The imported Korean drink and the American drink are the same price except one’s in a local store.

      • Drusas@kbin.run
        link
        fedilink
        arrow-up
        3
        arrow-down
        1
        ·
        2 months ago

        Imported goods do often cost more, and Japanese and Korean products tend to cost more to begin with. I’ll bet that Asian grocery had good prices for vegetables.

        • Flying Squid@lemmy.world
          link
          fedilink
          arrow-up
          4
          ·
          2 months ago

          If the old Asian man who either couldn’t speak English or could speak English but with an accent so heavy I didn’t understand him didn’t insist on proudly showing me random products (I can’t blame him, his store had just opened and he was happy to see customers), I’d tell you, but it didn’t exactly give me a chance to browse. Thankfully I happened to see the Milkis in the middle of it and grabbed them before he took me somewhere else so I could nod and smile some more.

          Anyway, I’m definitely going back. Hopefully he’ll be showing someone else around and I’ll actually get a chance to browse.

            • Flying Squid@lemmy.world
              link
              fedilink
              arrow-up
              3
              ·
              2 months ago

              It was very sweet even if I couldn’t understand him. My daughter was not happy about it, which also made me need to leave sooner. Teenagers.

    • Encrypt-Keeper@lemmy.world
      link
      fedilink
      English
      arrow-up
      3
      ·
      edit-2
      2 months ago

      Not local, but I’ve been shopping at Lidl and Aldi for years and while their prices raised some with inflation, it was negligible compared to bigger grocery stores. I pay less than half at Lidl than I would at another store.

      I’ve been seeing the horror stories of $9 milk for years but I’ve never paid more than $2-3 for. Gallon of milk.

    • RvTV95XBeo@sh.itjust.works
      link
      fedilink
      arrow-up
      1
      ·
      2 months ago

      We’ve got a local grocer, their prices tend to be even higher - probably because they have no negotiating power when everyone else is jacking up prices

    • ares35@kbin.social
      link
      fedilink
      arrow-up
      1
      ·
      2 months ago

      the only one within an hour of here has very high prices. they basically feed off of walmart hate, and charge those customers a premium for the convenience of not having to drive an hour (each way) to get to the next nearest store that isn’t them or walmart.

  • FaceDeer@fedia.io
    link
    fedilink
    arrow-up
    10
    arrow-down
    6
    ·
    2 months ago

    It’s basic economics. As prices rise sales drop, you just need to adjust to find the point of maximum profit. Since market information isn’t perfectly known you’ll occasionally see overshoots like this.

    • ares35@kbin.social
      link
      fedilink
      arrow-up
      12
      ·
      2 months ago

      ya. basically they hit that ‘tipping point’ where the increased profit margins from the higher prices is no longer keeping up with the decrease in sales volume resulting from those ever-increasing prices.

    • Milk_Sheikh@lemm.ee
      link
      fedilink
      arrow-up
      8
      ·
      2 months ago

      Yes, but once you progress beyond demand elasticity and possibility frontiers, you learn about how externalities and marketing distort the tidy micro/macroeconomic theories.

      “Perfect information” and “rational self interest” are the two biggest inbuilt crutches to economic theory, and capitalism evolves its profit-taking modalities daily. If marketing can convince consumers that an objectively inferior brand is equal or better to the competition, then the price inelasticity raises dramatically

    • shalafi@lemmy.world
      link
      fedilink
      English
      arrow-up
      5
      ·
      2 months ago

      Yep, been waiting to see this adjustment. Problem for them is they changed our habits with the high prices. That’s not easily undone with a price drop. People get a bad taste in their mouth, they don’t come back.

      • iopq@lemmy.world
        link
        fedilink
        arrow-up
        1
        arrow-down
        3
        ·
        2 months ago

        Yes, I gave up on eating in the last few years and now I’m used to it

        • FaceDeer@fedia.io
          link
          fedilink
          arrow-up
          4
          arrow-down
          1
          ·
          edit-2
          2 months ago

          Come now, be realistic. OP probably means switching to cannibalism.