Okoroawusa:

I notice that it's becoming a common practice by supermarkets in Lagos these days.
Recently I saw a product displayed for 1,950 only for the price to be 2,300 at the cashier's point.
The problem is not the money but the glaring dishonesty

I also witness this daylight robbing some days ago, the price tag on the French fries was ₦5,600 , at the cashier's point 9,000. I asked the cashier why the price was different, she was just staring me without a word. So l drop the fries .

Always check ✅ the price they input on their computer before making payment..
Most Nigerians are wicked and greedy people.

airsaylongcome:


How is it exploitation? It's inflation at work. Hyper inflation actually. So when prices change at 8am, the supermarket retags all their products with 8am prices. Those prices change at 1pm, they retag all. Change at 6pm. Rinse repeat. It's cost intensive for them to do that. This isn't a new phenomenon. Zim and Venezuela experience it. What needs to be done is to have a reliable way for customers to check the price just before they buy it

If what you described here is business then you are nothing but a thief. You are supposed to sell your old stock before updating to the new stock. That's what you people do and call it business.
It's fraud, lack of patriotism. You all go to church every Sunday while sabotaging Nigeria economy. God will judge all of you

Xscape1993:
Talking about price regulation is not a bad one, but why do we always talk about less important things and leave out the important ones in this part of the world? To me if you know that the price is so high for you in this place, you go to the next place for price comparison.

Bro. You no talk anything

airsaylongcome:


So do you order the items online, and just go pick them in store? Or do you walk from aisle to aisle in store picking your items. I ask because running costs of outlets located in say Chelsea would be higher than the same costs for a store located in say Woolwich Arsenal. I would expect the prices in the Chelsea outlet to be slightly more expensive. I would expect a Heathrow outlet to be even more expensive than Chelsea

I go to the stores. If you order online, delivery cost varies depending on your location but the price of the items remains fixed both online and in stores across the UK for the superstores.

The prices are the same because they operate as a multi-superstore system as against individual outlets. In a multi-store system, they have a department that operate online sales. So if you make an order for an item for example, all they do is to check which of their outlets closer and convenient to dispatch from there if the order is in stock there.

All the stores are on one interphase, all the items are on one interphase, sales and payment goes to one global unit but identifiable. So in real time, they know what people are buying most in every individual stores and thereby supply more of it to that particular store. Also, they can see the stock and inventory/items remaining from the each stores.

The running and operating cost of individual outlet is borne by the global enterprise. Thus, for example, an outlet in Fleetwood can make huge profits due to low operating cost while one in Birmingham can make low profit due to high operating cost.

airsaylongcome:


I like to "pick" your brain a bit. Would you have benefited from a Price checker? Customers can scan the item to get it's price and decide if they want to make the purchase or not. You make an intital upfront capital investment to acquire the devices. But subsequently price tagging is eliminated. I've seen it at some Ebeano outlets and my neighborhood supermarket and have learned to rely on them for updated prices

Yes this would have been great.
Unfortunately I don't run that business anymore. We closed during covid.

Mandate1:
so you mean business owners arbitrarily chose to increase prices of their goods? Can we just as a people start thinking right and blame who is meant to be blamed?

Fuel 650, diesel 1300, gas 1300, dollar 1300. Then you guys go about blaming businesses for inflating prices. This is absurdity in its highest form.

I am not saying the so-called leaders are saints but the masses are also one of the major problems of Nigeria.

I was born and raised in Nigeria so I know what I am talking about, don't pretend as if you don't know how Nigerians behave. Most Nigerians are wicked in nature, I saw pure witchcraft during the cash scarcity.


Even if fuel is reduced to N200per litre today it would still take ages before they comply because of greed/wickedness.

ignis:
it shouldn't be compulsory. Competition should be market force that drive purchases. Nobody is forced to buy.

You don't understand

suckmedownthere:
Nice one.......taking advantage of others, everything na tinubu, dollar and petrol, but na them dey go church pass....

Bro, it's Tinubu's fault. He made the economy volatile and these people were changing price tags daily that it became tiring to continue doing so

Bahamas95:
I am not saying the so-called leaders are saints but the masses are also one of the major problems of Nigeria.

I was born and raised in Nigeria so I know what I am talking about, don't pretend as if you don't know how Nigerians behave. Most Nigerians are wicked in nature, I saw pure witchcraft during the cash scarcity.


Even if fuel is reduced to N200per litre today it would still take ages before they comply because of greed/wickedness.

You would know it take ages everywhere else because prices of commodities are sticky when they're going down. It's called price stickiness in Economics. The government duty is to prevent volatility in the economy that shoot prices up because it doesn't come down

Bahdguyishere:

If what you described here is business then you are nothing but a thief. You are supposed to sell your old stock before updating to the new stock. That's what you people do and call it business.
It's fraud, lack of patriotism. You all go to church every Sunday while sabotaging Nigeria economy. God will judge all of you

Tell me you've never run a business without telling me you've never run a business

Nice one....
Na omoju dey worry dem

This is the same reason I don't shop in Lozy and Market Square supermarkets in Yenagoa.
Their price tags are not on the product, but it is pasted on the shelves. Most times you end up paying more than you envisage because not pasting the price on the products is an avenue to cheat

Bahdguyishere:

If what you described here is business then you are nothing but a thief. You are supposed to sell your old stock before updating to the new stock. That's what you people do and call it business.
It's fraud, lack of patriotism. You all go to church every Sunday while sabotaging Nigeria economy. God will judge all of you

A lot of you take business scenarios and reply with sentimental answers. So let's take it back to basic economics. Let's assume you sell one unit of a product. That's all you sell. Your old stock has selling price 1,200. And new stock is cost price at 2,800. What will you do? Sell the old stock at 1,200 then look for 1,600 to add to that to be able to buy new stock?

airsaylongcome:


A lot of you take business scenarios and reply with sentimental answers. So let's take it back to basic economics. Let's assume you sell one unit of a product. That's all you sell. Your old stock has selling price 1,200. And new stock is cost price at 2,800. What will you do? Sell the old stock at 1,200 then look for 1,600 to add to that to be able to buy new stock?

oga rest with your basic economics
Is it the buyer that will raise capital for you to stock your shop. It's either you are selling a product or rendering service, I'm involved in the two Mr basic economics. Your analysis is not business but fraud.

Stephench:

Tell me you've never run a business without telling me you've never run a business

I don't run fraud based business bro

Bahdguyishere:
oga rest with your basic economics
Is it the buyer that will raise capital for you to stock your shop. It's either you are selling a product or rendering service, I'm involved in the two Mr basic economics. Your analysis is not business but fraud.

Lol! Mr I-am-"involved"-in-Two-business, enjoy. Glad you didn't say "own"

Until capital is affordable for business owners to source, cost will always be passed to the end user

Bahdguyishere:
oga rest with your basic economics
Is it the buyer that will raise capital for you to stock your shop. It's either you are selling a product or rendering service, I'm involved in the two Mr basic economics. Your analysis is not business but fraud.

Even govt will tax you on new price, not the old price you bought, because if the current cost price is ₦15 while you are claiming ₦5, that you sold for ₦10, tax officers wont accept that you under sell the item below current market cost price, as it would reduce your tax obligations
Also, what the govt is fighting isn't illegal, just morals that won't stand in law

Okoroawusa:

I notice that it's becoming a common practice by supermarkets in Lagos these days.
Recently I saw a product displayed for 1,950 only for the price to be 2,300 at the cashier's point.
The problem is not the money but the glaring dishonesty

But customers should be able to say no and return such items now

Supermarkets prices supposed to be cheaper, lower and goods qualitative because they pass through a system and are bought at wholesale prices

Also the racking system ensures only moving items and new stocks are racked

The inefficiency in the system of setting up a supermarket is what is causing these frauds.

Supermarkets should sell old stock at old stock prices with marginal profit not old stock at new stock prices with marginal profit.

Restocking should be pre negotiated as there is a dept that handles that pricing system and advise on changes in prices.

The overheads of these supermarket is what drives their greed and this same govt should subsidize registered supermarkets electricity and fuelling!

To bring price control govt must be a stake holder in the expenses and not force prices down the throat of business men running their losses and profit at their own expense

Justrite is guilty of this act

JohnAOne:
Very good.

Also, the practice of putting a different price tag from the one on the system at the cashier must stop!

You'll see a lower price on the product only to get to the cashier and see a higher price.

airsaylongcome:


Lol! Mr I-am-"involved"-in-Two-business, enjoy. Glad you didn't say "own"

Until capital is affordable for business owners to source, cost will always be passed to the end user

Did I tell you I work for anyone?
You are not patriotic shikena!

being:

Like these agencies don't have priorities ! Why not go to oyingbo market and close the entire market cos they didn't put tag on their goods... Just imagine!

Supermarkets only.

JohnAOne:
Very good.

Also, the practice of putting a different price tag from the one on the system at the cashier must stop!

You'll see a lower price on the product only to get to the cashier and see a higher price.

e. g Market Square, Opposite Bells University, Ota, Ogun State, Nigeria.

talk2hb1:
Is it a crime?
Abeg make them come catch the Aboki in my street selling groceries, he didn't attach price tag to goods in his shop too.

In this case you will ask the aboki now before buying,so to buy or not to buy lies before you even touch the commodity.

Bahdguyishere:

Did I tell you I work for anyone?
You are not patriotic shikena!

Patriotism in business? Naaaah. Business is war. And the weapon of your warfare is the data and analytics to properly price your product. Take it from me, any business anywhere in the world that relies on import for 90% of local consumption will adjust its price ahead of restocking. It's a rational behaviour. Every country that has had this problem of hyperinflation and is heavily dependent on import does it. Zim, Venezuela, Argentina. Large swathes of small business owners increase the retail price of their existing stock if they have information that the cost price of their stock has gone up. It's not a lack of patriotism. It's business. It's war

verifiablefacts:


In this case you will ask the aboki now before buying,so to buy or not to buy lies before you even touch the commodity.

And you aren't able to ask the supermarket the same question? How much? And then make a buy decision?

Business are using the economic situation to exploit citizens badly. It’s wickedness

Afolue:
Business are using the economic situation to exploit citizens badly. It’s wickedness

How is it exploitation? Have you guys groaned and screamed when the leadership of the country has exploited the hell out of our commonwealth? Na small business owners una dey shine eye for

FreeStuffsNG:


https://nairametrics.com/2024/04/06/lasg-threatens-to-seal-supermarkets-over-non-disclosure-of-price-tags-on-products/

Price tagging is practiced in a sane environment and economy. Not a country where prices at 9am will be different from 11.59am of the same day. Who will be bearing the cost of the labels?

Xscape1993:
Talking about price regulation is not a bad one, but why do we always talk about less important things and leave out the important ones in this part of the world? To me if you know that the price is so high for you in this place, you go to the next place for price comparison.

You are missing the point. Tgey are saying supermarkets should display their price. ThYs how it's done in western world. Imagine you take a milk from the shelf that says $1 and you get to the check out and you were told it's $5 . It's common in Nigeria. In reality customers has to pay the display price and not the one dictated to you by the the cashier. They are not talking about price comparison.

Krankhead:
You are missing the point. Tgey are saying supermarkets should display their price. ThYs how it's done in western world. Imagine you take a milk from the shelf that says $1 and you get to the check out and you were told it's $5 . It's common in Nigeria. In reality customers has to pay the display price and not the one dictated to you by the the cashier. They are not talking about price comparison.

Okay. Thanks for your mature clarification my dear.

CaptainFM1:


It's not too much of a job to do.
What they could do is to use erasable system and hand written the prices. Once there is a price update the store assistants can then go to the particular product and update the price.

The erasable tag system should be placed behind a secured plain glass because some consumers too are unscrupulous.

Also, our superstores too should harmonize together and have a price comparison website or apps such as "super verison app" in the UK where you can enter all your groceries and you automatically know which store gives you the lowest price for each individual items.

Our supermarket need to improve consumers experience.

I'm happy you admitted that some People are unscrupulous. Again, the main thing that should be addressed is the inflation and the price and currency volatility. Once this is addressed, there will be no need for some of these measures such as mandating supermarket owners to affix price tags. What if it's not part of their business model?