Consumers are increasingly pushing back against price increases

Re:Consumers are increasingly pushing back against price inc... by selcuka on Sunday February 25, 2024 @06:48PM (#39506188)

> I watched the same thing happen at the grocery store earlier where a couple picked up a package of steaks, lamented that it was going to cost them X hours of work, and then threw them in the basket anyway.

What are they supposed to do? Meat is generally considered an inelastic good [1] unlike your concert example.

[1] https://en.wikipedia.org/wiki/Price_elasticity_of_demand

[ Parent | on HN ]

Re:Consumers are increasingly pushing back against price inc... by mertd on Sunday February 25, 2024 @06:52PM (#39506215)

Meat is maybe non negotiable for some folks but surely steak can be subbed with a cheaper cut, different animal etc...

Also let's not judge the shoppers in the original comment. Maybe they wanted it for a special occasion which made it less optional.

[ Parent | on HN ]

Re:Consumers are increasingly pushing back against price inc... by knightofmars on Sunday February 25, 2024 @07:37PM (#39506479)

Preface, I'm not a vegan or vegetarian. I also hunt and have killed and butchered animals for meat.

That people consider meat an inelastic good shows a cultural and commercial brainwashing. The idea that an individual or family could go without meat is practically heresy in the United States. Frankly, it's ridiculous and shows a fundamental lack of imagination and willingness to accept that reality doesn't guarantee anyone's ability to acquire cheap hamburger, chicken breasts, bacon, or any other meat.

[ Parent | on HN ]

Re:Consumers are increasingly pushing back against price inc... by kelipso on Sunday February 25, 2024 @08:30PM (#39506744)

Reality has done exactly that for decades in the US. What's so weird about people complaining that this is not continuing.

[ Parent | on HN ]

Re:Consumers are increasingly pushing back against price inc... by FooBarBizBazz on Monday February 26, 2024 @11:33AM (#39513290)

This is the long-form version of "eat ze bugs".

[ Parent | on HN ]

Re:Consumers are increasingly pushing back against price inc... by allturtles on Sunday February 25, 2024 @06:52PM (#39506213)

Eat chicken. Or ground beef. Or pork chops. Or any of the other meats that are cheaper than steak.

[ Parent | on HN ]

Re:Consumers are increasingly pushing back against price inc... by bombcar on Sunday February 25, 2024 @09:13PM (#39506959)

And lots of people do substitute; but the reality is that even steak is a small portion of most people’s expenses.

[ Parent | on HN ]