Grocery chains price gouging
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aFicIoNadoS
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Posted 11:19 am, 03/29/2024
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Once again, I see that Annie the liar is at work. Clearly, she's never actually operated a business. Annie, retailers have other expenses besides their products. Their utilities have gone up, their labor has gone up, their benefits for employees have gone up. God, you're stupid.
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antithesis
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Posted 12:02 am, 03/29/2024
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Let's look at an 11% increase. That's 5.4% above the average.
No, it's 5.4% over the peak in 2015... not the average.
So the massive price gouging you are trying to convince people of comes out to $.54 on a $10 item.
You're confused. Their revenue increased from 5.4% to 11%... that's not a price raise of 5%, it's that they more than doubled their profit.
Using your $10 item as an example, let's say that it wholesales at $3... they made $7. But in 2022, they raised their price to $17 for the same product so that they could double their revenue.
That's not me trying to convince anyone of anything, I'm simply quoting what the studies found.
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freerangethinker
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Posted 8:39 pm, 03/28/2024
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Okay. Let's look at an 11% increase. That's 5.4% above the average. So the massive price gouging you are trying to convince people of comes out to $.54 on a $10 item. Get a grip. Grocery stores are not making that much more or causing the massive inflation we are seeing. It's over spending. Same thing that has happened throughout history.
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antithesis
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Posted 7:13 pm, 03/28/2024
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You've been on a rant today, Foxy, are you feeling OK?
still trying to persuade people we are not in a recession and making out like groceries have not gone through the roof Oh dear god... literally no one has said either of these things. You're replying to a thread that I started about grocery prices going up, and you're going to try to say that I've denied it?
I think the GOP mighta scrubbed a little too hard are your recent brain washing, you might need to get that checked out.
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Foxnose
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Posted 6:42 pm, 03/28/2024
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Anti, I think it is down to only one YOU that is still trying to persuade people we are not in a recession and making out like groceries have not gone through the roof under Biden. BUT, you have convinced yourself
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antithesis
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Posted 6:36 pm, 03/28/2024
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From your article.
In 2021, food and beverage retailer revenue increased to more than 6% above their total costs, compared with a peak of 5.6% in 2015, the FTC report says. And during the first three quarters of 2023, profits increased further, with sales topping costs by 7%.
Note that I said, "grocery chains raised food prices by more than 11% in 2022 and 5% in 2023."
You're quoting 2021... which is not 2022 or 2023.
2021 - 6% 2022 - 11% 2023 - 5%
The part you quoted says that the first 3 quarters of 2023 increased by 7%, so I guess they finally cut their price gouging in the 4th quarter.
From your own quote, the highest profit increase they had previously reported was 5.6% in 2015. So they broke their own record 3 years in a row.
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Actually
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Posted 6:15 pm, 03/28/2024
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If you don't like it, dont buy it
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RollOn2
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Posted 5:40 pm, 03/28/2024
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Sometimes anti, you just have to stop digging your hole deeper.
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freerangethinker
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Posted 5:39 pm, 03/28/2024
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From your article.
In 2021, food and beverage retailer revenue increased to more than 6% above their total costs, compared with a peak of 5.6% in 2015, the FTC report says. And during the first three quarters of 2023, profits increased further, with sales topping costs by 7%.
So profits increased from 5.6% to 7%. So that 1.4% is the reason prices have increased drastically? That increase accounts for about $.14 on a $10 purchase. Get out here with that BS. No one believes you anyway. Give it a rest.
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antithesis
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Posted 5:36 pm, 03/28/2024
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You're forgetting the part where the Biden administration isn't doing didly to rein in the price gougers.
The Democrats tried to pass several bills that would allow the President to declare a national state of emergency, which would have given them the ability to go after price gougers on a national level.
The GOP voted each of the bills down.
What, exactly, do you think the President can do about it?
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Anonymoose
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Posted 5:26 pm, 03/28/2024
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Bidenomics hurting the seniors bad now since Joe turned the EBT cards off.
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Foxnose
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Posted 5:21 pm, 03/28/2024
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It has a name, it is called Bidenomics. The Joe Biden and Democrat super inflation, second only to the Jimmy Carter super inflation period.
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tribune
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Posted 5:20 pm, 03/28/2024
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What's the problem? It's just good old fashioned unregulated capitalism at work. Charge what the market will bear, whether they like it or not those suckers gotta eat!
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UnoFire
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Posted 4:06 pm, 03/28/2024
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Sorry for calling out your BS.
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Foxnose
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Posted 4:03 pm, 03/28/2024
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I realize how easy it is for people to wear out a new word they discover but Unonothing, irony is getting old. Expand your vocabulary
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UnoFire
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Posted 4:01 pm, 03/28/2024
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Lol. The irony of this dumb chtiB.
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Foxnose
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Posted 3:42 pm, 03/28/2024
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Yeah, blame it on someone else beside Joe Biden
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Anonymoose
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Posted 3:40 pm, 03/28/2024
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Did they price gouge or did they raise their prices so they could give cost of living increases. A lot of older people work at grocery stores and they're not working for $10 an hour anymore.
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DB Cooper
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Posted 2:22 pm, 03/28/2024
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You're forgetting the part where the Biden administration isn't doing didly to rein in the price gougers. He should have started busting up the food cartels two years ago. Especially the meat packer cartel. But what's he doing? Chasing around Apple and some of the tech companies.
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