Before I settled on the ketogenic diet, I liked pomegranate juice by Bolthouse Farms. Only one store in the area, namely, Krieger’s Market, had this product and not always. Half the times I’d visit the store and find its shelf missing this juice.
So, my trip would be at least in part wasted, and I would be disappointed.
This always annoyed me. What is this, Soviet Russia? I can’t afford a lot of luxuries, but this was one thing I was willing to pay for. “Why don’t these guys just raise the price?” I wondered. It’s already at $9 per bottle, but I’d be willing to pay more. “Raise it to $12, and you’d still sell everything, but I’d be the one who would get this stuff.”
I don’t know who was responsible for this outrage, Krieger’s or Bolthouse, but at least one of them clearly kept making entrepreneurial errors and failing to serve me, a loyal customer, properly.
There is nothing wrong and everything right with high market-clearing prices for luxury goods.
In a disaster area, all goods for a very short period of time become luxuries. They should be priced accordingly.