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SackMan518

More Bidenflation, This Time Hitting the Poor at Discount Stores

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He's really building back better! The dollar stores aren't even dollar stores anymore.

12-packs of Coca-Cola are up by as much as $1.50 at Family Dollar and bags of Lay's potato chips cost $0.50 more at Dollar General, an analyst found, as inflation hits weekly shops

 

  • Prices are creeping up at dollar stores as inflation soars.
  • An analyst highlighted price increases at certain Dollar General and Family Dollar stores in the US.
  • A 12-pack of Coca-Cola cost $1.50 more at some Family Dollar stores versus the year before, the analyst found.
  • See more stories on Insider's business page.

Inflation has hit dollar stores, sending prices of a Coca-Cola 12-pack up by as much as $1.50, according to an analyst.

Price checks by Gordon Haskett analyst Chuck Grom, cited by The New York Post, revealed that several products sold at Family Dollar and Dollar General stores had crept up in price over the past year.

For example, a 10-ounce bag of Lay's potato chips at Dollar General stores in the Southwest was up $0.50, now costing $3.75 in August, Grom said. Frito-Lay is owned by PepsiCo, whose CEO has been outspoken about its plans to raise prices.

Grom found that a 12-pack of Coca-Cola cost $1.50 more at Family Dollar stores in the Northeast in August this year versus the year before.

Price hikes weren't limited to national brands either. Grom said that private-label milk at Dollar General's Southwest stores was also up by $0.74.

Dollar stores are among retailers that are raising prices as inflation soars to 30-year highs because of the rising cost of labor, raw materials, and supply chain expenses.

Last month, Dollar Tree, the only surviving major dollar store chain to sell items for $1 or under, also said it would be breaking the buck and stocking new items at $1.25 and $1.50. Dollar Tree's parent company owns Family Dollar.

In its most recent earnings call, Dollar General's CEO, Todd Vasos, discussed inflationary pressures, and said that while it was able to offset some of these costs, it had to raise prices in some cases.

But Vasos said that the chain has one key advantage over some of its competitors outside the dollar-store segment. It stocked a limited number of products - about 10,000 to 12,000, compared to about 60,000 found at a typical supercenter like Walmart - so it can just pick and choose which ones it wants to keep or drop if prices rise.

By not having the full assortment, it has greater flexibility - and Vasos said this is a tactic it has used a lot in the last two quarters.

 

Biden Inflation Tax.png

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Sack "The Buffalo Range's TRUSTED News Source!"

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It’s just the price of “building back better “

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Ed Oliver is my adopt-a-Bill

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That's going to suck for the people who live on Dollar Tree.  25% to 50% markups add up quick when you're buying food by the cart load.  :niterider:

 

 

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1 hour ago, f8ta1ity54 said:

OMG junk food is more expensive!!! 

Nice cop out.  Can't hide what everyone can see, brah.......

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2 hours ago, Thebowflexbody said:

Nice cop out.  Can't hide what everyone can see, brah.......

You know what goes up by about 5% each year? 


81Yi-LuxR2L._SY355_.jpg

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A significant portion of the rise in consumer goods prices is the significant increase of shipping costs both domestic and international. 
 

Container Ocean shipping has almost quadrupled since 2019. There’s a scarcity of long haul truck drivers in the US driving up costs of domestic shipping. 

I work for a sporting goods company that uses 4 factories worldwide. France, Vietnam, and 2 in China. The inbound cost of CTRs (40’HC) has increased 3x-4x+ since 2019. (Ex. 2019 HC CTR from Vietnam = $6k, our last CTR in August $33k). This price difference early on was absorbed by most businesses. It’s now being included in the cost of our goods. 
 

Intermodal intl shipping issues are here to stay for at least another 12-18 months. Domestically it will most likely extend further as there aren’t enough drivers to move our domestic goods to market and it will take a long time to fill these jobs snd they will also be filled with truckers making more $$ than previous. 
 

One area the Biden admin could make a difference is in rescinding the increased China tariffs. Most companies assumed he would roll the tariffs back and now that it has not happened, those tariffs (some as high as a +30% increase during the former admin) are now being reflected in the costs of goods SS a permanent price increase. 
 

 

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6 hours ago, foster said:

A significant portion of the rise in consumer goods prices is the significant increase of shipping costs both domestic and international. 
 

Container Ocean shipping has almost quadrupled since 2019. There’s a scarcity of long haul truck drivers in the US driving up costs of domestic shipping. 

I work for a sporting goods company that uses 4 factories worldwide. France, Vietnam, and 2 in China. The inbound cost of CTRs (40’HC) has increased 3x-4x+ since 2019. (Ex. 2019 HC CTR from Vietnam = $6k, our last CTR in August $33k). This price difference early on was absorbed by most businesses. It’s now being included in the cost of our goods. 
 

Intermodal intl shipping issues are here to stay for at least another 12-18 months. Domestically it will most likely extend further as there aren’t enough drivers to move our domestic goods to market and it will take a long time to fill these jobs snd they will also be filled with truckers making more $$ than previous. 
 

One area the Biden admin could make a difference is in rescinding the increased China tariffs. Most companies assumed he would roll the tariffs back and now that it has not happened, those tariffs (some as high as a +30% increase during the former admin) are now being reflected in the costs of goods SS a permanent price increase. 
 

Not sure why biden hasn't lifted those tariffs. 

Those trade wars are easy to win, am I right?


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