price rises

LuiLui

Why is it that shops can increase the price of goods just because the item is selling? Last week i was considering buying a hdd recorder from a top high street store priced at £250 (10 in stock) but I didnt want to pay this so I asked if there were any "deals" available but got a flat "NO". I left the store empty handed. Today i checked the prices again & its now £300 (1in Stock). Can they legally do this? Surely theyre just loosing custom - they have mine.

jacques_chirac

Supply and demand - previous sales tell them they will sell at the higher price. Of course they can legally do it, prices go up and down every day.

earthstorm

So last week they had 10 available and sold them all at £250, so they reordered new stock and the wholesale price had increased, so being in business to make a profit they had to increase their prices and these still sold, so when you rechecked they only had 1 left at the new price.

this is called BUSINESS

OlliesDad

earthstorm wrote: »

So last week they had 10 available and sold them all at £250, so they reordered new stock and the wholesale price had increased, so being in business to make a profit they had to increase their prices and these still sold, so when you rechecked they only had 1 left at the new price.

this is called BUSINESS

Maybe, but there is a multitude of reasons:

• Last week it was on promotion, now its not
• More people want the product - increase the price to get more money
• Cost increases - as mentioned
• Price error

Note: This list is not exhaustive.

stugib

LuiLui wrote: »

Last week i was considering buying a hdd recorder from a top high street store priced at £250 ...but I didnt want to pay this

Today i checked the prices again & its now £300 (1in Stock). Can they legally do this? Surely theyre just loosing custom - they have mine.

Well they never had your custom at £250 either, so they haven't lost out.

earthstorm

I wonder what the OP would do if he went to Tesco last week and is favourite beans were 20p a tin and then this week he goes in and they are now 30p a tin, would he say they are losing custom because they have increased the price

WTFH

LuiLui wrote: »

Why is it that shops can increase the price of goods just because the item is selling?

Do you know for a 100% fact that is the reason why the price has gone up?

There's a variety of reasons for price rises:
Costs, sales ending, stock levels, changes in regulations, etc.

If you think that prices going up as stock levels go down is illegal then you've got the airline industry to have a go at.
Their prices rise as the planes fill up. Buy a ticket today for a flight with very few people booked on it and you'll get it cheaper than buying one for a flight that is almost full.

Hintza

A bit like buying an airline ticket, these days. Be one of the first and get it for £30. Be one of the last and pay £300.

OP you need to know when to deal. Anyway why would you want an HDD recorder in this day and age. You can either watch iplayer or download it.

shaun_from_Africa

LuiLui wrote: »

Why is it that shops can increase the price of goods just because the item is selling?

Because until those goods have been sold to a customer, they are the property of the seller and they can do what they like with them, sell at a fixed price, increase the price for whatever reason they see fit (provided that the increase isn't do with the buyers race, religion etc) or give them away totally free of charge.

earthstorm

only thing they cant do on a whim is offer at a sale price, unless its been on sale at the higher price for a consecutive 28 days (something supermarkets think does not apply to them)

mattyprice4004

You're honestly asking if a shop can increase its prices?
Just think about it for one minute - what you're saying is shops shouldn't be allowed to increase prices.
They can charge what they want, it's your choice to buy there or not.

Humanity is doomed.