Inflation caught up with this cult-favorite.
with high demand and high cost of production for staple products everywhere, it's not much of a stretch to imagine that some businesses have to make tough decisions. And while there are quite a lot of instances of suspected"greedflation" flying under the radar during a time of, the inflationary pressure of, frankly, almost everything, may be more to blame.
Trader Joe's has built a brand around prioritizing its customers. The mission of the company, according to its , states,"We are committed to providing our customers outstanding value in the form of the best quality products at the best everyday prices." Though it's fair to still be skeptical.by investment company Acorns compared the price of staple goods at Trader Joe's against other low-cost competitors ALDI, Walmart, and Target. It found that the cost of four common purchases far exceeded that of other similar retailers.
Could it be because consumers already expect to pay more during a period of notoriously high inflation? According to assistant professor of finance at Boston College Francesco D'Acunta, people are less likely to blame the company for driving up prices at this time. "Prices are increasing all around consumers, so this idea of punishing the retailer for increasing prices is not there," he toldnoticeably gone up over the past year, anywhere from ten-cents to a couple dollars. If that doesn't sound like much, we can talk percentages. A thirty-cent increase on a $3 product is a 10% price hike – which is in line with data from theWhether these rate hikes are temporary or the new normal, that remains to be seen.
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