Posted 26th Dec 2022 (Posted 18 h, 18 m ago)
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"?
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  1. Avatar
    People are expecting the new year to be better.

    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.
    Well, people in general are to blame for a lot of things.
    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.
    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.
  2. Avatar
    But it is really very simple, just don't pay these prices.

    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)
    I am of a generation where, if you couldn't afford something, you did without until you could.

    Wonder if that still happens or if people put it on credit instead.
  3. Avatar
    You may be able to afford a grand on a holiday but a lot of people can't even afford a passport, and because there has been a natural drop on sales of some goods and services, companies have to try to get the money somehow.
    The divide in this country has never been wider, there is plenty of money, it's just in fewer pockets.
    So true. (sadly)

    30 years ago I won tickets to Turin..sadly I didn't collect tickets as I couldn't afford passport.
  4. Avatar
    I book off season caravan holidays, they have doubled in price.
    Its very simple, they have lost my business.
    Did without during lockdown, can wait another year and see what’s going on.
  5. Avatar
    Just goes to prove inflation was not triggered by anything else other than maintaining profit margins plus growth. (edited)
  6. Avatar
    Yeah, many companies are profiteering from this crisis. Some prices are outrageous too, compared to what they used to be. Have to be extra savvy nowadays.
  7. Avatar
    “Incredible prices”

    I’d phrase it rather differently
    (was trying to keep it PG)
  8. Avatar
    Heinz, Nestle cereals & Pringles are amongst the worst offenders of ripping people off!
    They use 'Shrinkflation' - keep prices similar, but give less gram per pound - horrible culture
  9. Avatar
    The lowest of the low, a bottle of bleach now fits perfectly in my kitchen cupboard where as I used to have to bend it sideways. In a way its aesthetically pleasing but also knowing I'm paying the same or more for less in the bottle brings a harsher side to it.
    Own brand bleach from Asda, I used to pay 0.39p now its 60p
  10. Avatar
    Morrisons donuts were 50p, now 80 I think? Lots of stuff has risen sharply, so we don't buy it.
    Yet people still buy Krispy Kreme donuts for £1.89 or whatever and don't baulk at the price of those
  11. Avatar
    Prices for lots of things are much higher than usual but I don't think it's a clear case of profiteering. Suppliers costs, staffing costs, air fuel, taxes etc. They've all increased and it has a knock-on.
    Pretty much covers it. And its not just in the UK, I spent 3 months in France and Spain this year and the cost of everything has rocketed not helped by the plummet of the £ in September. You can bet that holidays will be dearer this year for all these reasons plus that the big holiday firms like TUI are still struggling to recover from covid years aggravated by staffing shortages in all areas.
    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.
  12. Avatar
    4 pint of cravendale at local co-op...£4!
    Should be no more than £1.60 i reckon.
  13. Avatar
    The Ugly/Beautiful face of free market Capitalism (depending on which side you're on)
  14. Avatar
    It's almost as if retailers have really upped prices on luxury/ unnecessary items. Almost to say- well it you can afford a holiday you can afford to pay for it!
  15. Avatar
    How on earth do you get to Ireland for £40?. Or even £90? Costs me way more than that
    09:20London Stansted
    Duration 1h 20m
    Flight no.
    FR 901

  16. Avatar
    What's happening is companies increase their prices to maintain their original profit margins and some take the mick and as you say make even more profit now whilst we buyers are in the worst financial position we've ever been in.
    Governments a joke, rich corporations are theives and we're the idiots buying it I guess
  17. Avatar
    Our Haven holiday this year (2022) was £500 more expensive than the previous year. The issue is that this year the kids finished a little earlier so we were able to book it outside of the normal summer holiday peak. So it should have been £500 cheaper!
  18. Avatar
    I think it's not generally profiteering, sure it is happening (fuel is clearly a case of profiteering over last few months at petrol stations) but raw material costs have rocketed... in the communications industry we've had manufacturers increasing their trade prices overnight by 50 to 100% - no warnings, suddenly things like lithium batteries double the price, add to that the 3 to 9 month delivery timescales, and you get a very unstable market place.

    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)
    And let's not forget the uk sabotaged it's supply chains.

    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?
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