Jewish business aren’t trying to deplete your finances

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Forum -> Household Management -> Finances

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Trademark

Mon, Jun 17 2024, 12:20 pm

People make the mistake and think the way prices are calculated is expenses + % margin for profit.

Prices are actually calculated how much the market is willing to bear- how much the customer is willing to pay.

This means that some items/industries have higher profit margins than others.

And yes some Jewish places absolutely take advantage that we often don't have other choices.

amother

Forsythia ↓

Mon, Jun 17 2024, 12:22 pm

amother OP wrote:

Nobody seems to complain about restaurant prices. Why is that?! I wonder.

if people can get away with paying less, they will.
If they want to eat out, there is no cheap options, you can't just order on Amazon or Shein. So restaurants don't really have Amazon and Chinese competitors and their prices reflect it, consumer will need to buy from them or not have restaurant food.
Same is with chassidish men clothing. The prices are RIDICULOUS!!! If anyone can find me a rekel, suit, bekicha on Ali etc please share a link. Local prices go up up up and everyone who needs a bekicha will still pay the ridiculous price for the ridiculously cheap quality bekicha. Same for mens/boys hats and so on. What about the wool tzitzis for $35?

I wonder about the Jewish stores who manufacture their own line of robes. Why is a maxi robe $179?

Let's not kid ourselves. Prices are (not always) many times way more than is acceptable.
Yes, the Jewish stores are very much going to ask for the most they could. If there would be cheaper options for chassidish mens clothing, they would have to lower their prices and they would still make a whole bunch of profit.

As a side point, Toddler leggings on sale (And they're almost always on sale) from Carter's are $6, Old Navy is $5 and they hold up really well, just as well as the Jewish made leggings which sell for $20. Just saying another point why someone would not support a Jewish businesses.

amother

↑ Forsythia ↓

Mon, Jun 17 2024, 12:23 pm

Trademark wrote:

Wow, exactly what I was trying to say! You said it short and to the point.

nech123

Mon, Jun 17 2024, 12:23 pm

Unfortunately, President Biden has contributed to this "businesses raise prices because they are greedy" myth. https://www.politico.com/news/.....42773

amother

Apple

Mon, Jun 17 2024, 12:28 pm

Let’s not kid ourselves jewish by is ness owners have expectations make it big. Their lifestyle is expensive like everyone else.

amother

↑ Forsythia

Mon, Jun 17 2024, 12:31 pm

amother Bluebell wrote:

Who has a 8 day return policy? Theres 1-2 days. Some stores even have a policy anything bought on Sunday is same day return. Im sorry, its crazy and its taking advantage of us. I wanted to buy something for my son he only comes home from cheider at 6 the store closes then. How do I know if it fits him? They expect me to buy something full price and not have the option to return? I dont want to hear about the ppl that take advantage and buy tonss of stuff on Sunday then return everything the next day thats why they need such return policies. Its just not fair. Give us minimum of 24 hrs.
The hoisery store, why do they care if I return a pair of tights 2 weeks after I bought it. They sell the same ones yr after yr. I once got such a nasty yelling about why I think they should take back a few pair of unopened tights. I simply bought my daughter the wrong size. I wasnt asking them to take back an opened pair.
Wtvr, I could go on and on.

YES! Yes to every word!
Even to the poster you were replying to. If will still be hot in another week. If I return within the week you will not loose out. Try it! I will be one of MANY who will run to shop only there. I can not shop in a place without a normal return policy.

amother

↑ Broom

Mon, Jun 17 2024, 12:33 pm

nech123 wrote:

Unfortunately, President Biden has contributed to this "businesses raise prices because they are greedy" myth. https://www.politico.com/news/.....42773

It's not a myth in industries with limits on competition.

amother

Cyclamen

Thu, Oct 10 2024, 1:20 pm

But as someone in the accounting field who has done the returns for multiple grocery stores, don’t even try to tell me they are raising prices do to necessity. Some of these grocery stores have bottom lines that would blow your mind away.

Regarding clothing/shoe stores, from my experience, all reputable stores charge 100% markup on cost, that’s how the rates are generally calculated. They buy a skirt for $20? Sell for $40. Buy a dress for $75? Sell for $150. That markup is used to pay all expenses other than cost, and any profits. I’d say that’s pretty reasonable industry standard.

↑ Ruchel

Thu, Oct 10 2024, 2:14 pm

Ok. Just don't be upset we buy elsewhere

iammom

Thu, Oct 10 2024, 2:47 pm

It seems like some stores do charge more than others.

How does Blank keep their prices so affordable while say Fame doesn’t? A slip dress at Blank costs $49 and at Fame it’s $99+

amother

Coffee ↓

Thu, Oct 10 2024, 4:48 pm

amother OP wrote:

Good for them that they learned quickly that extremely high prices aren’t either good for business.

But I’m not talking about this. I’m talking about the average small business.

I come from a family of many business owners. Most do ok, but not that well, even though they have a constant stream of customers. Their prices aren’t low, and not very high either.

A successful person in the same industry as a certain family member approached said family member and said if you wanna make money you need to double your prices. It’s not some sort of scam or joke. It’s the price of business.

DH runs a business where his fee is high, he has a nice amount of clients, and guess what, he doesn’t walk away with much. He has so many expenses in the business. If he charged more, he’d have fewer clients. If he’d charge less, he wouldn’t make money.

So what are we to do?

The mindset of your family member telling your other family member to double the price is where the frustration of others set it. A frum company shouldn’t just double their price in a whim. It’s not erlich.

amother

↑ Coffee

Thu, Oct 10 2024, 4:50 pm

amother Poppy wrote:

At one point in my life, I was hired by an expensive frum children's clothing store to sew tags on to their items. I had to cut off the tags from a Chinese brand and sew on their expensive label.

An outfit they were selling for $44, my mother found on Ali for $8.

I'm not saying that every store does this. I'm sure there are many frum stores that have their own designs and factory runs. But instances like this are what turns people off from frum stores.

This is horrifying. Where is the yashrus?

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