Re:Most people don't care about quality
by carlosjobim on Thursday January 02, 2025 @01:42PM
(#42577340)
The cheapest accommodation will usually not be listed on AirBnB or Booking, because of severe short-comings meaning the platform won't do business with them for any price.
As for Uber, I guess you're right in many regions. But there's a plethora of Uber competitors around the world, offering a worse experience for a cheaper price.
In 100% of cases, the cheapest product you can find will be of significantly worse quality than the second cheapest product, without bringing much savings. The rest is edge cases.
As you pointed out, I'm talking about reasonably mature markets.
In my country, studies regularly show that the cheapest toothpaste or shampoo (and other similar products) are some of the best. I would consider that mature.
I think it's an interesting heuristic, though.
Not true. New entrants to markets often will price to undercut markets (see Uber and Airbnb in their early days). Also loss leaders are a very much a thing.
Over time markets do typically stabilize and this could be true.