In July, my family and I visited Japan. Before departure, we were warned about the high cost of living in Japan. Upon arrival and seeing the price tags in stores, my wife and I exchanged amused glances: Is that all?
This is a frustration that anyone living in the United States understands. A few days ago, I wanted to buy a dog bowl. I was quite shocked to see the price tag at the pet store: Did this cost ten dollars in 2019? I hurried home to use an old melamine bowl instead. The dog bowl is not a necessity; if I can't afford it, I can avoid it. However, the prices of some necessities, like food, are outrageous.
It's uncomfortable to see that many products in the U.S. either remain the same in price or change in whole dollars, with few fluctuations of tens of cents. What does this mean? Take bananas as an example: Can't they be two dollars today and 2.20 dollars tomorrow? Sorry, no. When bananas are cheap, they are 1.99 dollars, and when they are expensive, they jump to 2.99, 3.99, or even 4.99 and 5.99.
Many people schedule their grocery shopping for a specific day of the week, trying to buy everything in one supermarket, rather than buying milk at store A, fruits at store B, and condiments at store C. Moreover, I've seen more than once that a product will be half price if you wait just one day, but most people (including me) just can't wait and rush to bring it home.
Why don't most people compare prices and wait for a better deal?
There are undoubtedly some wealthy individuals, such as those in high-paying professions like doctors and lawyers. These people are indeed not very sensitive to the price of a few dollars. Apart from these people, the majority of ordinary people who have not achieved financial freedom do not compare prices for the following three main reasons:
No time. The money saved is a trade-off for the time spent comparing and visiting these places. The vast and sparse planning model of the United States determines that its supermarkets are very scattered and it's impossible to have a grocery store on every block like in Japan. Thus, if you want to buy every grocery item at the lowest price in the U.S., you would need to spend at least half a day. Most Americans seem lazy, but in reality, their schedules are very tight, and they can't afford to spend so much time comparing and browsing. Many people place great emphasis on the routine of life. Their daily time is planned in advance and not very flexible. If they plan an hour for shopping, they won't extend it to an hour and a half just to find a lower price. Delaying would interfere with the next scheduled activities, such as picking up children or exercising.
Consumption Values. I believe that shopping at these supermarkets is seen as supporting the local community. People with economic conditions take out a part of their income that they can afford to buy goods, allowing businesses to earn a reasonable profit, which in turn can support more employees and suppliers, thus promoting the healthier development of the regional economy and society as a whole.
Belief in "you get what you pay for". If a product is priced higher than other similar products, most people will think it must be worth the higher price (including but not limited to materials, design, workmanship, user experience, durability, after-sales service, etc.); if the price is low, people will think it must have some flaws or potential issues in after-sales service and maintenance. Various strict standards also strongly support and protect the consumption concept of "you get what you pay for." Products that meet various standards inevitably have higher costs and naturally higher prices, and it has been proven that they are indeed more practical and durable.