re: I'm on the verge of filing bankruptcy.....

quote:

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but he can’t just “raise his selling price”

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The average consumers have their breaking point no matter what the product is.

Even McDonald's has admitted that just last week

McDonald’s promises more affordable menu items after backlash on social media


I saw a guy who owns 12 mid-range restaurants in NJ put out a video about how if people do go out to eat they either go to fast food or go to a really expensive place. The middle class that used to go to his middle-of-the-road places are the ones eating at fast food places instead of sports bars and mid-range steak houses and of course, higher-end places are being visited by the same clientele as always as they are unaffected by price sensitivities. He says he is trying to figure out how to get people back in the door and the only thing he can think to do so far is to have better values and specials AKA lowering prices and margins.

I know both my examples are dealing with eating out, but considering food is an essential, you can imagine the problem is worse for things people can live without. To pretend everything isn't affected and businesses will fail or are failing because of it is just being a moron...AKA Big Scrub.

Big Scrub is smarter than all of us, though, and swears consumers aren't price-sensitive so just raise those prices and stop bitching!