Price Gouging During Special Occasions
Financial Management

Price Gouging During Special Occasions

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It’s Chinese New Year where for many that usually means dining out or shopping for a ton of food to prepare as a family dinner. One interesting conversation that was brought up was how one person dread having to shop or dine at places because they find the prices all seem to be inflated in order to take advantage of the occasion. For example, a pomelo which is usually a popular fruit at this time would normally be about one dollar or so but is often sold for $2 today.

That could just come down to supply and demand you could say. But even in places like certain restaurants where they normally serve the exact same amount of guests would inflate their prices knowing that people will be big spenders on the occasion. Kind of makes you wonder would you ever avoid dining out or shopping right on this day know that? Probably not for a lot of people.

The only real way to avoid this is to really plan ahead of time. Like for a restaurant you could pre-order it weeks ahead of time with a set menu of sort to ensure that you won’t get surprised by any one day price changes. Almost like making arrangements for a wedding banquet where you have everything set. Same thing with the shopping of course where the tricky part is if it is for fresh items then you can’t exactly buy that too early.

Does that sound like too much effort for an occasion where many people would say you should just forget about money and have fun? Perhaps. But just like weddings you want to make sure your finances aren’t completely down the drain because of a one day party too. Funny enough there was a lot of piggy bank references too since this is the year of the pig. Gotta find ways to fill that up.

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