Online inflation catches up – Marketplace

Read Time:1 Minute, 45 Second


Adobe’s Digital Price Index, kind of an online imitation of the federal government’s Consumer Price Index, saw a record increase in November. Prices of clothes sold online were up 17% year over year, appliances up 4%. Historically, retailers have resisted raising online prices as much as they raise prices in stores.
Online, it’s easy to see whether Target or Amazon or Walmart has the best deal. That’s partly what kept prices from rising as much as what’s on store shelves in the past. 
“That old adage consumers had, which is I can find it online and I can get it cheaper online, that’s what’s being turned its head a little bit,” said Vivek Pandya, an analyst for Adobe.
The pandemic shifted so many consumers to e-commerce that prices started rising even before supply chain woes got so bad. 
Steven Tadelis, a professor at UC Berkeley’s Haas School of Business, said consumers don’t always get the bargain they think they’re getting online, and retailers know this. 
“If once in a while you get a so-called sucker to come by and buy at that price, maybe it’s just worth doing that under the guise of one website,” he said.
At least when you overpay for something at the mall you can drown your sorrows in an Orange Julius – if you can still find one.  
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.

source

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous post INBOUND 2021 Recap: Customer-Centricity, Community-Building & The Demise Of ‘Cookie-Cutter’ Marketing – Demand Gen Report
Next post Amazon's $24.99 Fire TV Stick 4K Sale Has Been Extended Again – Cord Cutters News, LLC