Great article on market efficiency. Note, though, that Trader Joe's would have a third option. They could also have limited each individual purchase size, maybe two per customer.
Excellent read. It lines up nicely with what I say frequently in my small business classes, that maximizing profit is not the only reason to set a price. Providing a good product or service which is affordable and accessible to as many customers as reasonable is just as good of a guideline. (Obviously this changes a little bit when there's a fiduciary responsibility to stockholders; I'm not sure if TJ's structure includes that.)
Although if they know that the bags are popular, and they want to provide the best possible customer service, I do wonder why they didn't simply produce more of them so that more people could get one.
Great article on market efficiency. Note, though, that Trader Joe's would have a third option. They could also have limited each individual purchase size, maybe two per customer.
I could have done a better job saying that the secondary market is more efficient than the current method, but not the most efficient method.
Enjoyed the article.
Excellent read. It lines up nicely with what I say frequently in my small business classes, that maximizing profit is not the only reason to set a price. Providing a good product or service which is affordable and accessible to as many customers as reasonable is just as good of a guideline. (Obviously this changes a little bit when there's a fiduciary responsibility to stockholders; I'm not sure if TJ's structure includes that.)
Although if they know that the bags are popular, and they want to provide the best possible customer service, I do wonder why they didn't simply produce more of them so that more people could get one.
I chuckled when I saw your last comment about the fairness of egg prices because I was curious how you would take this article.