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2 months ago

Best of Persona (NBA) - Chad Wittman

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In what way is it expensive to be poor?

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So a friend of mine was a consultant that one of the big consultant agencies. And he shared with me a case study that was internal. It had to do with a grocery store that was kind of in the Florida area, and they were trying to understand pricing as it related to beachside pricing as well, a sort of like in the city pricing. So Daytona Beach Is this a hypothetical example? Here you have beachside grocery stores, and then you have grocery stores that are sort of inland, right and what they found. And this is just it's just crazy to me is they charge mawr for, you know, things like beer and soda and chips and whatever it is stuff that you kind of associate typically with like beach stuff. They charged Mawr at the inner city grocery store than the one on the beach, and the reason waas was that they found that the people that shopped at the beach ones had more discretionary income, more access thio money. They had more access to searching for deals. They stopped at multiple different stores. They might go Thio, you know Costco as well as the grocery store and so they could compare prices a lot better. They had Internet access on their phones to compare pricing, and they had the means to travel between stores relatively easily. They found that the people in the regular stores, like kind of the stores in the downtown area or often taking public transportation. I didn't have much information. Access didn't have the ability to hop in a car to go check somewhere something else. So they were more locked in to that price. They didn't have freedom to browse and shop across different things. So they charge more money for the stuff in the downtown places, which was the typically lower income place. And they charged less at the place that was more frivolous and at the high come high income thing. And I just think it's a perfect example of in what way is it expensive to be poor is that as you shut off different optionality ranging from information to transportation toe access, then capitalism can actually drive up costs on you because you're effectively stuck. That's pretty messed up

C
2 months ago

Best of Persona (NBA) - Chad Wittman

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