But they did what they promised! They lowered prices before Thanksgiving, when it would be most visible, and then cranked them back up on the Tuesday morning after. The grocery near me even stopped stocking popular items until after the prices were returned to usual.
Asking a business to make less money will never work. They need to be compelled by law to adjust prices and profits, and be subject to oversight and regulation.
Wonder if something like price controls would work. Like say any product sold cannot be marked up more than 3% per year. Although if the supplier increases the price by more than the stores simply won’t sell it if they won’t make a profit at that 3% increase.
Personally I’m fine with price controls but I think a grocery crown corp that sets prices the private chains have to compete with would be a more palatable option for most.
We need more crown corporations. Private industry isn’t competitive and it’s all fixed.
Lower, not stabilize. Start taking losses you massive pricks.
the companies have presented plans to the government to tackle rising prices, which he says include discounts, price freezes and price-matching campaigns.
Basically means they are doing literally nothing different.
Government: So what did you do to help?
Grocers: Not much, put a couple of coupons here and there in our apps to make some money selling user data.
Government: …
Grocers: …
Government: Alright then, see you in a month.“Our plans are competitively sensitive and we do not plan to discuss them publicly before they are launched in our stores,” she added.
Read: we have done nothing so far, and are not actually committing to doing anything in the future.
Trudeau may have called it “simplistic” but we could probably use a business windfall tax for curbing profiteering (and maybe leaving some breathing room for competition).
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