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Price hikes during the coronavirus pandemic

Discussion in 'The Pavilion' started by SOPL, Apr 4, 2020.

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  1. SOPL
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    SOPL Talented

    Jun 4, 2013
    2,706
    Many videos have been circulating on social media in recent times of businesses, primarily Muslim-owned ones, increasing their prices sharply during the coronavirus pandemic and the ensuing panic buy rushes.

    The videos are usually complete with vulgar language demonstrating genuine anger, with the highlighters of injustice claiming that such practices are "chori" (theivery) or that those doing so are "zaalim" (cruel). From what I've observed, the flak seems to be laced with the subtext of Muslim hypocrisy.

    But how unfair do you consider these practices to be?
     
  2. Don Corleone
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    Don Corleone Kaptaan

    Jul 20, 2012
    29,471
    Depends on the price hike. People ought to understand importing some of the stuff these foreign shops sell probably got a lot more costly recently, and should expect the prices to increase somewhat.

    As long as it's within reason I don't have any issues with it.

    Unfortunately a lot of people, especially on social media, believe people should give away stuff for free as if small to medium sized businesses aren't struggling enough as it is, with a lot of them going out of business.

    Do you have any specific examples of where this happened and how big the price hike was? Would be interesting to see or compare.
     
  3. s_h_a_f
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    s_h_a_f Whispering Death

    Dec 26, 2011
    8,328
    Birmingham UK:

    A pharmacy was selling Calpol (kids paracetamol)for £23 (normally £4.99)

    Groceries were selling green chillies for £15 a kilo - I bought a handful of chilles for £3 - normally £1!

    These are just two examples. A lot of them have been reported to trading standards.


    https://www.birminghammail.co.uk/whats-on/shopping/more-60-shops-birmingham-found-18015934

    It’s a disgrace.
     
  4. Don Corleone
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    Don Corleone Kaptaan

    Jul 20, 2012
    29,471
    In these cases I definitely agree with you.
     
  5. SOPL
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    SOPL Talented

    Jun 4, 2013
    2,706
    I might rub people up the wrong way with this view but what exactly is wrong with raising prices in the current situation? Is it not just exploiting the most fundamental law of economics, i.e. supply and demand?

    The businesses or industries themselves have not increased prices by unfair methods, either by a hostile monopolisation of the market or by artificially stifling the flow of products (De Beers diamonds in the past century for example). Nor is it the product of deceit. Plain and simple, it is the result of excessive demand which IMO a business is wholly entitled to profit from. The prices of the free market do not see the cause of excessive supply or demand, it simply exhibits the reaction (new equilibrium price) to the triggers.

    If there were indeed extreme shortages of basic goods due to something out of the control of the consumers, perhaps I would be more sympathetic. However, when the shortages simply exist due to the general public's incessant greed and self-serving nature, I don't see how they can sit on their proverbial high horses and clamour about the morality of business.

    To provide an example from my local area, halal boneless chicken has gone up 100-150% since the pandemic began and red meat is no longer available (hasn't been for at least 3 weeks). Nothing has been reported suggesting a shortage from the suppliers, it is just they can no longer cope with the demand that was imposed on them by the same selfish self-righteous Muslims fighting with each other and grabbing 5 whole chickens directly off the meat supply trucks.

    Whether or not the caricature of the shekel-grabbing Jew is evoked when you look at the local business merchant, it is irrelevant for me: the general consumer deserves the price hikes for the way they have acted, with self-absorbed excess. A harsh stance to take but one I feel strongly about at the moment.
     
  6. SOPL
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    SOPL Talented

    Jun 4, 2013
    2,706
    Price hikes of medication I disagree with as a general cause, especially given the guaranteed structure/rates that pharmacies have (per prescription etc).

    What was the root cause behind that particular increase however? No pharmacy can spike the price up five-fold of a basic medication unless they know they can sustain their demand/reputation afterwards. Was it caused by the ridiculous stockpiling of paracetamol just because ibuprofen was rumoured to worsen the symptoms of COVID-19 (genuinely wish to know)?

    On an average day, somebody will go into a chemist and scoff when the pharmacist offers paracetamol as analgesia but know suddenly it became the wonder drug!? Or is it just because everybody does not care if others suffer, so long as their own life remains totally unaffected? The same individuals who, when the UK government stressed to avoid non-essential interactions, decided to flock to the parks and beaches on the Sunday because - and I quote - "it was the first day of sunshine we have had in ages".
     
  7. Omar
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    Omar Cricistan Moderator

    Jan 27, 2010
    25,709
    This is happening mostly in Asian shops/halal butchers etc; as I have myself experienced it over the weeks at my butchers as they sold me some pretty distasteful lamb which I called and told them about and was told they had no complaints from anyone about it but only to be told by another employee that they had some locals going back and throwing it back on their faces for how bad the quality/taste was.
     
  8. s_h_a_f
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    s_h_a_f Whispering Death

    Dec 26, 2011
    8,328
    They simply took advantage of the situation for extra cash. The pharmacy in question was hammered by the media..rightly so.

    Same with grocery stores (mostly Asian).. from what I have read..fines have been dished out.
     
  9. Patriot
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    Patriot Kaptaan

    Oct 8, 2014
    26,113
    @Adil_94 is the same happening in your area ?
     
  10. SOPL
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    SOPL Talented

    Jun 4, 2013
    2,706
    No doubt I agree with the outcry about that particular pharmacy, the only point I am making is what is driving the prices up? IMO, the shortages only exist due to the positive feedback loop of panic buying as a consequence of the majority of the public.

    And second, what is a fair price? Is not a price not arbitrary in and of itself?

    @Don Corleone, apologies if that may have interpreted posts above as a rant towards you. They were not whatsoever. I was just venting some frustration at the general public. :)

    @Patriot, is there any panic buying or any price hikes in Saudi?

    @Omar, why would the meat shop suddenly start selling poor quality meat? It is indeed very wrong but I can only they are selling it due to prolonged shortages. This is what little I could find explaining the red meat shortages: https://www.islamicfinanceguru.com/...he-halal-meat-price-hikes-during-coronavirus/
     
    Last edited: Apr 7, 2020
  11. Omar
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    Omar Cricistan Moderator

    Jan 27, 2010
    25,709
    I think they've got old stock that they've tried to get rid of and that is what they did is which is giving out that in pretence of being shortage from their suppliers as first day I went I was told delivery was on it's way then got delayed as I waited around for a while as I was told it was coming between a certain time but then eventually it was going to come quite late and told to try next day or so.

    Eventually I called him a few days after and was told they've got it and will sort me out so when I went it was there and they did it but you only find out when you cook it and the first bag cooked could smell it wasn't right.

    It has just been a waste of money which cost double too this time around due to the prices they were charging.
     
  12. Adil_94
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    Adil_94 Youngsta Beauty

    Apr 3, 2020
    4

    Yeah man asian shop owners are scum. Profiting from peoples desperation
     
  13. Adil_94
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    Adil_94 Youngsta Beauty

    Apr 3, 2020
    4
    I went to my local desi store a woman in front of me was buying Karelay n they charged like 13 quid for 2 kilos its a joke.
     
  14. Adil_94
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    Adil_94 Youngsta Beauty

    Apr 3, 2020
    4
    Another shop a desi corner shop was charging 15 pound a bottle for Carex hand sanitiser. True vultures
     
  15. PakistanZindabad!
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    PakistanZindabad! Cornered Tiger

    Sep 29, 2012
    10,437
    I went to a desi pharmacy before it really blew up in the UK and it was £12 a bottle for an off brand sanitiser


    Sent from my iPhone using Tapatalk
     

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