Annie Gasparro
speaker
127 appearances
3 recordings
1 series
first heard Feb 2020
last heard Jul 2021
Annie Gasparro’s voice in public audio — every appearance, attributed to the second.
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Appearances
The companies want to be able to protect their profit margins by charging more, but they know that consumers are really in tune and pay attention.
Well, it's really everything along the supply chain and that's why it's such a big impact.
Everything from the ingredients like cooking oil or grains or meat to the cost of shipping the food, the cost of the packaging materials like plastic.
There's just so many different steps along the supply chain and all of them almost are facing higher costs right now for various reasons.
Well, you know, the companies want to be able to protect their profit margins by charging more, but they know that consumers are really in tune and pay attention.
So they're trying to do things like change up the packaging
rather than having to just outright raise the price tag.
And that could be something like a smaller box of cereal or a smaller carton of ice cream, both of which we are seeing in the grocery store now.
Or it can also just be that the company makes a more convenient package.
There's some new packaging coming out that is resealable for snacking and the companies can charge more for that because it's
a more convenient option for consumers and they're willing to pay for it so you're seeing smaller packaging but also just like more enhanced or convenient packaging that they're charging more for
You know, the discounts aren't as good right now.
That's another thing that the companies are doing to try to drive average prices higher.
They're still offering a lot of promotions, but the discounts just aren't as good.
Maybe it was four for a dollar last year.
Now you're only seeing three for a dollar, stuff like that.
Another strategy is to change what they're offering discounts on.
So some companies like Dana and Yogurt are shifting their promotions to more higher end yogurts that they sell and that allows them to still get higher prices overall.
We're also seeing this at fast food chains.
McDonald's came out with a chicken McNugget meal that was tied to the Korean pop group BTS and that was about $7 or higher and Burger King's charging more too for higher end items and these really push the profit margins up for the companies and consumers and restaurant goers might not realize
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