Canadian brand No Name locking prices despite inflationSubmitted by LuxAlpha t3_z6f25c in mildlyinteresting
Taniwha_NZ t1_iy1rvsn wrote
Reply to comment by spoof17 in Canadian brand No Name locking prices despite inflation by LuxAlpha
Here in NZ, shortly after the inflation scare got going, the major supermarkets all introduced some kind of price-freeze marketing ploy. They promised to keep prices the same on all essentials, or took prices back to 2 years ago, etc.
In every single case, the deals turned out to be lies. They either raised prices beforehand, or chose items they controlled themselves, or the offer had all sorts of conditions.
These companies aren't charities, the modern supermarket CEO would kill his own grandmother to hit their bonus targets and trigger share-buybacks or splits or vesting or whatever their contract promises them.
Whatever they are promising, they are actually just profiting even more than usual.
MetricJester t1_iy2mmge wrote
The company that own No Name has a stranglehold on our food in Canada. They have like a 75% market share of everything. They owned half of all bakeries, one third of all frozen food processing, and had deals with nearly every farm. They own entire corners of some markets, and have eked out or bought up 2/3 of all grocery stores, and drug stores.
TamanduaShuffle t1_iy3u4ms wrote
Canada really likes monopoly eh?
spoof17 t1_iy437te wrote
Check out internet and cellphone plans
Goverment sanctioned monopoly.
Lorneehax37 t1_iy4jfbf wrote
Power companies and liquor stores in every province.
MetricJester t1_iy3x8vg wrote
No we complain about it nearly as much as we complain about the weather. The trouble is there's not much room in a market with only 38 million people. In the states that's like three major cities, here that's the whole country.
spoof17 t1_iy1s96a wrote
No, you see my insert big business name here is different they really care for my time and dedication I've spent 10 years oh I'm fired for not attending a meeting that I was out of the country on vacation for?
At least I can trust that they won't be making record breaking profits through shady business practices off of me and my fellow citizens who are struggling financially since the world decided to get a little kooky.
223454 t1_iy3vu4p wrote
>raised prices beforehand
This is common in the US too. I've heard that stores will raise prices leading up to a sale (like Black Friday). JCPenney was known to do this.
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