I am well aware of the the cost of living crisis and that prices are escalating at a scale that is unheard of in previous years....
My personal experience..
Annual holiday.. Same resort, same time of year, same supplier...
Historical price £750 pp
New price £1100 pp
Visit Ireland
Annual check in with relatives...same location, same time of year, same supplier...
Historical price £40pp
New price £90pp
Am I the only one to think some retailers are profiteering on the back of the "crisis"?
My personal experience..
Annual holiday.. Same resort, same time of year, same supplier...
Historical price £750 pp
New price £1100 pp
Visit Ireland
Annual check in with relatives...same location, same time of year, same supplier...
Historical price £40pp
New price £90pp
Am I the only one to think some retailers are profiteering on the back of the "crisis"?
52 Comments
sorted byWe make sugar/coffee/sauce etc sachets and sticks, highly likely if you have used a sachet of something in a cafe or restaurant it was made at my place of work
Raw material price of salt went up 80% in October, we pushed a price increase to our customers to cover the increase. The price is now going up another 100% in the next couple of months, we will have to do another price increase to customers, but customers are pushing back meaning we are making less profit on it.
This is the same for every raw material we get, including packaging, cardboard for the boxes, laminate for the sachets, ink for our printers.
Then there was a struggle to keep staff and hire new, so in the last 3 months we have all had a 12% rise across the board, from cleaners to HR managers. There is another wage rise due April next year. Profits are down even though our prices have gone up
I imagine its the same in other industries, everybody is suffering with material increases, haulage increases and staff demanding higher wages. There is no way companies can keep the prices the same as they were 6 months ago, never mind a year ago
If I'm finding something way of the realistic price, I don't buy it.
Some examples: Samsung S95B, month ago prices £1600 everywhere. Now usual price £2199.
One big joke. (edited)
Wonder if that still happens or if people put it on credit instead.
When most don't even realise we are heading for a full blown recession.
Corporate greed is causing this, they use excuses to put up their prices. Yet they are making record profits, record profits that are completely ridiculous.
This is happening around the world and its about time governments from these countries put price controls in place and make it so they cant avoid to pay proper taxes etc.
Wanting ££££ cars; spending £250k on a house that someone else bought for £200k a week beforehand; having to have this latest gadget; having to eat out 5 times a week; unable to walk 200 metres to the shops when they can drive in their Range Rover; "traditional" Xmas tat for a few hours of very little, and half of which will be wasted anyway etc.
Most people won't curb their spending habits as they've some lifestyle to maintain. The majority will keep spending (on credit?) for as long as they can manage.
Look at coffee shops. No shortage of people queuing to pay £3-£4+ for a lukewarm coffee at Costa etc. (my mother and sister went to a coffee shop the other day where it was £6! for a muffin. People were basically jumping in your seat as soon as you moved).
Yes there are some here that can easily drop £50k on a new BMW (from a post yesterday) and will never have any money worries.
We don't really produce that much in this country. Too reliant on everyone else for raw materials, energy etc. and we can be held to ransom.
Not saying though that we would be any better off if we did have some manufacturing and energy industries though.
Food wise, it depends on the company.
I've got places near me producing fresh and frozen food items.
Frozen items can be produced in say 3 days of the week, and then store for months in a freezer before going to the shops. Costs are less are they don't need to run machinery, have as many staff etc., yet something produced 6 months ago still goes up in price by 50% and that's not all down to fuel etc. prices. (edited)
The divide in this country has never been wider, there is plenty of money, it's just in fewer pockets.
30 years ago I won tickets to Turin..sadly I didn't collect tickets as I couldn't afford passport.
Its very simple, they have lost my business.
Did without during lockdown, can wait another year and see what’s going on.
I’d phrase it rather differently
Of course big companies are going to take advantage. I read something a while ago saying that one of the highest price hikes was semi-skilled milk at 46%. Inflation at 10 or 11%, Yeh right.
From observation in my local city, people were spending like there was no tomorrow! So the cost of living crisis seems to be more one of the poor getting poorer and rest being relatively ok.
09:20London Stansted
Duration 1h 20m
10:40Cork
Flight no.
FR 901
£14.92
Governments a joke, rich corporations are theives and we're the idiots buying it I guess
I can't comment on food distribution but I am quite sure food makers are having immense problems too.... but yes, during recessions and crisis, companies can always make more money if done right (or wrong!)
Everything has a knock on effect.... higher wages, higher energy costs, higher material costs and employers have to charge more for their services to cover these costs, every single part of the supply chain effects the next in line. (edited)
What I don't get though is when exports dropped you'd expect we'd have a uk surplus so prices of those items would drop, not sure I've seen any?
The UK is expensive because... it's expensive. The £ really deserves to devalue to make us better value if there's to be any hope of tourists coming here from Europe. (edited)