Inflation and supermarket business: We are standing on the edge.
Food prices are rising and in some cases, they are at an all-time high. Unfortunately, the fact is, the era of cheap food is over. We may not gonna buy the same food at the previous price again.
In my country, Bangladesh as well as countries like this where the supermarket business is just getting popularity in recent years but now they are standing on the edge. I read in a recent article that there's a falling trend in supermarket shopping. Also, not in these countries but also general supermarket business is losing customers because of its fragile model.
We have alternative shopping options like buying from confectioners where they don't charge any extra vat and service fee. Compared to supermarkets they have additional fees and all which is not attracting many customers through they usually offer a huge range of discounts. But we have to approve that, it's clever to buy products at a comparatively low cost rather than getting discounts on the things we can easily replace with other products.
This is where the market is lacking. As supermarket business needs a huge inventory, additional costs for transport and distribution, pay, and all software maintenance; so it's hard for them to provide any low costs anymore, even if they want to. Because the fuel price is also adding up with this price surge.
If I give my example then I have to say, I prefer shopping from supermarkets to confectioners and grocery stores. But I can't afford anymore to go grab my monthly products from supermarkets. Because I'm not willing anymore to exchange my comfort with any more additional fees. I stopped shopping there for the past three months and more. This same thing is happening to people like me, who are in my social class, here as well as all over the world.
It's understandable why food prices can't go any low. But in this inflation and upcoming days, I see we are standing on the edge. If we don't find any alternative now then it's hard to tell how this business model will gonna survive.
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