Jaewon Kang
speaker
95 appearances
3 recordings
1 series
first heard Dec 2019
last heard Feb 2023
Jaewon Kang’s voice in public audio — every appearance, attributed to the second.
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Appearances
So that does not mean consumers are going to experience that exact same percentage, but it puts some pressure on retailers to decide how much of it they want to pass down to consumers and how much they want to absorb.
Prices are going up for a couple of reasons.
One being prices for commodities that get used a lot as base ingredients.
So, you know, things like resin.
And that's been going up since the winter storm in Texas.
And it gets used a lot in things like to-go containers that restaurants use, coolers that a lot of companies use.
And...
You know, we're seeing those items go up in price and at the same time a number of other ingredients like corn and lumber have all been going up as well.
And some of that is also increasing prices for packaging.
Then we also have transportation and freight costs which are going up as well, partly because companies are running low on drivers and they're having to pay up for people who are willing to do that work.
And these factors are all trickling down the entire supply chain and are driving up prices for consumers.
So consumers are definitely noticing the increase in prices and they're switching to store brands from name brands on staples like detergent.
And they're also trying to save up on fuel by signing up for rewards programs or just trying not to drive as frequently.
and others are switching to buying frozen food rather than fresh because it's cheaper and it lasts longer.
The price increases are coming at a tough time for consumers.
People who received stimulus checks
in the spring have likely spent through most of that money.
And unemployment rate is also slightly going up.
And, you know, people have to make decisions on what they're willing to spend and what they're willing to, you know, save on.
But at the same time, there are things that consumers are willing to splurge a bit on, like dining out, because they haven't been doing that all of the past year.
Showing 41–60 of 95 · page 3 of 5
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