7-eleven To Raise Retail Prices Of Over 500 Products

[Greenside]

Well, at least this time they are honest about the price rise ....

A common strategy of raising prices at 7-11 is that they put a certain article in the 'promotion' (2 or 3 baht off the regular price). When the promotion has ended the article is suddenly 2-3 baht

higher than the regular price ...

Probably, Thai consumers have no clue ....

This is standard marketing practice and it's what every smart company does when they have (or want) to raise prices. No business raises prices unneccessarily if they have their margins set right in the first place; it's usually a response to increased costs, in this case (unsurprisingly) the cost of fuel. And by the way, it's not just Thai consumers who don't have a clue - most western shoppers don't know the exact price of even stuff we buy regularly and keeping us confused (and interested) with 2 for 1's and the like makes underlying price hikes less painful for the stores to implement.

To some extent the rural poor will be less affected for the moment since a higher proportion of their food is sourced locally but, as several posters have pointed out and I've seen for myself in Isaan recently, the trend for diverting the use of land from production of food to biofuels will soon come to have a serious impact on even them.

We're definitely going to see a period of significant inflation in LOS.

[Tony Clifton]

The Thai fruit juice mafia doesn't care, their prices have been way too high for years. Only Brooks seems to be somewhat honest.

[yumidesign]

BANGKOK: -- 7-Eleven, one of the largest chain of convenience stores in Thailand, announced it would raise the retail prices..........

I guess this means that they will now be paying their poor overworked staff a decent wage from next year

[Johpa]

At the moment oil is priced in dollars worldwide (Venesuela is an exeption).

The US went to war with Iraq because they decided to price oil in Euros.

Then Iran announced they would switch to Euros - and surprise now the US doesnt like Iran.

If the other Arab countries switch to Euros, the Dollar will crash. Now is the most sensitive time for the Dollar and if these countries decide together to switch to Euros this may be the end of America as we know it - and even world war 3 as america attempts to invade and control the supply of oil in producing countries (to force them to sell in Dollars). We can expect to see huge hyperinflation, depreciation of the dollar etc. On the contrary we will see the Euro sky rocket.

At present the USA never pays for any oil, they just print dollars which countries around the world use to stockpile and purchase oil. In return they receive plenty of oil (so they can cap their own wells for future use). If they switch to Euros all these dollars will be changed to Euros, and we will see the end of USA and Japan as we know it (Japan is owed a lot of dollars).

Bloody anything could happen in the next few years....

Just the other week there was a leak of a OPEC meeting where there was serious discussion of OPEC pricing oil using a basket of currencies as opposed to the current status of pricing in dollars. This proposal was rejected by the Sauds, the dominant OPEC member and the one middle eastern clan dependent upon Texans for their personal security. As usual, little of this was noted in the US press. The end of the monopoly of the petrol dollar is near. (The US did not get free oil, only heavily subsidized oil which kept prices well below world retail averages) The CP group wants to get as much profit out of Thailand while they can before the inevitable collapse while the Baat is strong as the dollar remains in the basket of currencies that determine the value of the Baat. Similarly, the spokesperson of another family at the same level of influence as the Chearavanont family recently noted the need to make significant purchases now for their primary constituents. Unless of course you believe that transportation costs reflect 30% of that little package of junk food you buy at a 7-11.

[coldcrush]

I am angry at this, as I loved those lil hotdogs in buns! Who cares I only ever buy crap in them anyways..the shampoo, razors, crisps and basic products have always been over priced compared to other stores. anyways who is near a 7-11, not me. I pity you 7-11 shoppers, get a life.

Edited December 6, 2007 by coldcrush

[distortedlink]

A few days ago I visited the new BigC supermarket in Hang Dong, Chiang Mai.

It had been a good few months since I shopped at any supermarket in Chiang Mai.

I was shocked to see how much food prices have increased. Some items especially milk have gone up by 20 baht an item, also they were giving nothing, certainly no bargains to be had, the buy one get one free was changed to, buy 2 for less and other examples the same. I was not impressed and on the brink of leaving my trolley of shopping and going to Tesco Lotus down the road. In the end I didn't bother.

When I arrived home with my 1700 baht worth of expensive few bits and pieces I was thinking are these new supermarkets trend setting higher prices? Their goal to set & control food prices nationwide.

It appears that judging by the news today about 7/11 hiking up prices, that there is logic in my assumptions.

I wager that if we delved into who are the ultimate owners and controllers of these Conglomerates, that they are all part of the same outfits, conspiring to keep our cost of living high, big profits for the fat cats with total control.

For example Tescos and 7/11 in the UK like to portray their image as our local stores. The reality is, they have become vastly international covering the lions share of the markets throughout the globe, dictating what prices we pay.

Since living in Thailand I have managed to avoid using the Supermarket culture/system for my shopping by using local stores and markets. This way I save 50% on food bills per month, yes 50%, often for the same brands as sold in the supermarkets and still eating well and getting better quality food and drinks in the bargain.

Eventually these big Conglomerates will drive out the genuine local businesses, leaving no other choices than to use the supermarkets and pay whatever they ask.

Back in the UK I worked for a small local retail food shop. Our motto was: your local store, use it or lose it.

Asda and Sainsbury's admit milk fixing

By Mirror.co.uk 07/12/2007

Asda and Sainsbury's today agreed to pay massive multi-million pound fines after admitting to fixing the price of milk, cheese and butter.

The matter relates to pricing during 2002 and 2003, estimated at a cost of about £270 million to consumers.

The supermarket giants are among a group of stores and dairies to admit colluding over prices and have agreed to pay massive settlements.

Other firms that have also admitted to price fixing in the investigation by the Office of Fair Trading include fellow supermarket Safeway, prior to its takeover by Morrisons, and dairies Robert Wiseman, Dairy Crest and The Cheese Company.

The OFT will continue with its case against supermarkets Tesco and Morrisons and dairy company Lactalis McLelland, which have not admitted to price fixing.

Sainsbury's, which has agreed to pay watchdogs a settlement of £26 million, said its action to collude over prices was "designed to help British dairy farmers at a time of considerable economic pressure and public debate about whether farmers were getting a fair price for their products".

Chief executive Justin King said: "We are disappointed that we have been penalised for actions that were intended to help British farmers, but recognise the benefit of a speedy settlement.

"The price initiatives in 2002 and 2003, which were widely and publicly reported at the time, were designed to help British dairy farmers at a time of considerable economic pressure and public debate about whether farmers were getting a fair price for their products."

Asda said in a statement its intention was also to "provide more money for dairy farmers, who were under severe financial pressure at the time".

"These issues concern all the major supermarkets but we've chosen to settle this matter quickly because we believe it's the right thing to do for our customers," it added.

Dairy Crest is expected to pay a fine of £9.4 million, while fellow dairy Robert Wiseman had agreed to pay £6.1 million.

Edited December 8, 2007 by distortedlink

[Heng]

Here in Ko Chang we have the worst 7/11, six of them, run by the CP-Mafia who not only got the land cheap at Toxins time but now rip off the unexpecting tourists and Thais alike. Can of Chang 30 Baht, Dutchie Yoghurt 13 Baht. Every local store is cheaper. Only reason to go 7/11 is to pay the bills and get phone-cards.

Then surely they will be out of business in no time.

Or more like: same as the various hypermarts, locals and foreigners will continue to vote with their wallets and allow more and more branches to open.

[WongKarWai]

This is the overall view, correct, and it probably will be like this.

Here in Ko Chang we have the worst 7/11, six of them, run by the CP-Mafia who not only got the land cheap at Toxins time but now rip off the unexpecting tourists and Thais alike. Can of Chang 30 Baht, Dutchie Yoghurt 13 Baht. Every local store is cheaper. Only reason to go 7/11 is to pay the bills and get phone-cards.

lolz at you if you're actually serious.

7/11 is mafia because they are ripping off consumers who choose to go to their store instead of going to the cheaper local shops? What exactly is it that you would like 711 to do?

Edited December 8, 2007 by WongKarWai

[WongKarWai]

Well, at least this time they are honest about the price rise ....

A common strategy of raising prices at 7-11 is that they put a certain article in the 'promotion' (2 or 3 baht of the regular price). When the promotion has ended the article is suddenly 2-3 baht

higher than the regular price ...

Probably, Thai consumers have no clue ....

Yeah, most Thai consumers can't do math....

[WongKarWai]

The world runs on oil and oil is priced in US dollars. As the US dollar and other currencies (including Thai Bhat) are in a competitive depreciation (printing loads of money), nominal prices have to rise. Inflation is happening in almost every country.

Tip: Inflation will be high in the next 1-2 years. Buy stuff (e.g. pasta, canned food, toilet paper) before their prices increase, saving you lots of money. After that, there would be a worldwide economic depression, at which time prices would decline.

Hunghung

At the moment oil is priced in dollars worldwide (Venesuela is an exeption).

The US went to war with Iraq because they decided to price oil in Euros.

Then Iran announced they would switch to Euros - and surprise now the US doesnt like Iran.

If the other Arab countries switch to Euros, the Dollar will crash. Now is the most sensitive time for the Dollar and if these countries decide together to switch to Euros this may be the end of America as we know it - and even world war 3 as america attempts to invade and control the supply of oil in producing countries (to force them to sell in Dollars). We can expect to see huge hyperinflation, depreciation of the dollar etc. On the contrary we will see the Euro sky rocket.

At present the USA never pays for any oil, they just print dollars which countries around the world use to stockpile and purchase oil. In return they receive plenty of oil (so they can cap their own wells for future use). If they switch to Euros all these dollars will be changed to Euros, and we will see the end of USA and Japan as we know it (Japan is owed a lot of dollars).

America has huge oil reserves - the problem isnt that they wont have the oil, but that countries in the world wont want to buy dollars to purchase Arab oil and there are too many dollars in overseas accounts which are used to purchase oil and stabilise economies.

Europe is now financially more powerful and stable than the USA and it has a greater demand for oil, and a better currency to purchase it with. If these countries switch to Euro, which they are likely to do - America will have plenty of oil to fight a war but very little money. As history has shown America can not win and the dollar is in no state to finance another war.

Bloody anything could happen in the next few years....

lolz, you guys are hysterical. i just wish i could see what you guys really look like in real life and have you saying this stuff in front of a camera. that would be gold!

[chiang mai]

The world runs on oil and oil is priced in US dollars. As the US dollar and other currencies (including Thai Bhat) are in a competitive depreciation (printing loads of money), nominal prices have to rise. Inflation is happening in almost every country.

Tip: Inflation will be high in the next 1-2 years. Buy stuff (e.g. pasta, canned food, toilet paper) before their prices increase, saving you lots of money. After that, there would be a worldwide economic depression, at which time prices would decline.

Hunghung

At the moment oil is priced in dollars worldwide (Venesuela is an exeption).

The US went to war with Iraq because they decided to price oil in Euros.

Then Iran announced they would switch to Euros - and surprise now the US doesnt like Iran.

If the other Arab countries switch to Euros, the Dollar will crash. Now is the most sensitive time for the Dollar and if these countries decide together to switch to Euros this may be the end of America as we know it - and even world war 3 as america attempts to invade and control the supply of oil in producing countries (to force them to sell in Dollars). We can expect to see huge hyperinflation, depreciation of the dollar etc. On the contrary we will see the Euro sky rocket.

At present the USA never pays for any oil, they just print dollars which countries around the world use to stockpile and purchase oil. In return they receive plenty of oil (so they can cap their own wells for future use). If they switch to Euros all these dollars will be changed to Euros, and we will see the end of USA and Japan as we know it (Japan is owed a lot of dollars).

America has huge oil reserves - the problem isnt that they wont have the oil, but that countries in the world wont want to buy dollars to purchase Arab oil and there are too many dollars in overseas accounts which are used to purchase oil and stabilise economies.

Europe is now financially more powerful and stable than the USA and it has a greater demand for oil, and a better currency to purchase it with. If these countries switch to Euro, which they are likely to do - America will have plenty of oil to fight a war but very little money. As history has shown America can not win and the dollar is in no state to finance another war.

Bloody anything could happen in the next few years....

lolz, you guys are hysterical. i just wish i could see what you guys really look like in real life and have you saying this stuff in front of a camera. that would be gold!

Agreed, what a load of carp!