Price of consumables?

[13roman58]

It has been reported that there is an excess of potatoes and vegetables due to the lack of customers from hotels, restaurants and students because of coronvirus.
Add to this, the sales of lamb, goats and cows for slaughtering during Eid festivals is down 50%
Will prices fall in line with supply and demand? I doubt it.

[Keithcaley]

OK, a serious response to a serious question -

The tried and tested way to maintain your profits in a situation where demand , and therefore sales and receipts are falling, is to put your prices UP.

Cypriots are expert in these matters...

[waddo]

With TL just hitting 9.24 to the £ don't expect a drop in the price of a spud anytime soon!!!

[Brinsley]

Disagree, lots of penny profits equals loads of dosh by volume of increased sales! Though concur that Cypriot economic sense has a lot to be desired! How does a 100% local product jump in price because of the decline in the Lira? And, if fresh produce it will soon become rank without a sale, destined for the bin! The LSE would have a field day here of how not to do things!

[EnjoyingTheSun]

Disagree, lots of penny profits equals loads of dosh by volume of increased sales! Though concur that Cypriot economic sense has a lot to be desired! How does a 100% local product jump in price because of the decline in the Lira? And, if fresh produce it will soon become rank without a sale, destined for the bin! The LSE would have a field day here of how not to do things!

Agreed that their economic sense leaves a lot to be desired at times and volume is the key but the problem for a lot of shops is they pay their rent in dollars, euros or sterling. Maybe that other costs such as fertilizer etc are imported and originally are paid in the same so its not as simple as you would have it.

[mrsgee]

I would just love to hear some positivity here. All the world is suffering... so instead of being negative and talking about the price of potatoes think for Just one minute about the suffering now in Lebanon For heavens sake can people please get a sense of reality.

[13roman58]

My point is that if the suppliers lower their prices that would stimulate the local economy so enabling them to be still in buisness next year along with the retailers and restaurants instead of standing on their hands and everyone going bankrupt.
Just a thought.

[tomsteel]

What has either positivity/negativity or the Lebanon problem got to do with the topic of "Price of Consumables"? Start a separate topic if you wish to debate 'positivity/negativity or Lebanon or reality'. Back on topic - small profit quick return (SPQR) used to be a successful sales strategy.