Greed driving prices in the VI – resident
The resident, who was a caller on the Umoja Show last evening, September 19, 2013 said if an examination was done of what retailers were actually paying and the cost of doing business while looking at the price margins, they would find that, in many cases, sometimes there is as much as four hundred (400) percent on the gross.
“It tells you that as a consumer, there is a lot of room that these businesses have to play with where they can save the consumer some money,” the resident said.
The resident added that if all the numbers were put together on the table, persons would really be able to examine the situation in a better way.
“That’s the difference between doing business here and in the USVI, because in the USVI a gas station for example, we have gas stations in the USVI, once they change their price on the pump, there are certain factors that have to come in in order for them to change that price,” he noted.
He contended that when gas prices are raised in the VI, many persons don’t know the breakdown or reasons for the increase and the excuse used is often related to shipping costs.
He felt that, “Until these businesses are forced to do business right [and] until the government puts the things in place to protect consumers from price gouging, we will always be in this conversation and it isn’t going to change.”
Co-host of the programme, Natalio Wheatley aka Sowande Uhuru agreed that greed played a factor and suggested that consumers need greater consumer rights and greater protection.
“I would like to see business owners be able to sit around the table with some representatives of a consumer group… to be able to hammer out something that’s fair because we know that some things are not right and we can legislate against some of things that we know are not right,” he said.
He acknowledged that rental and shipping costs did indeed play some role in the setting of prices.
22 Responses to “Greed driving prices in the VI – resident”
Locals want to shop = WE GOING ST THOMAS AND WE DONT CARE WHO SAY WHAT!
Locals looking sponsorship = HI LOCAL BUSINESS I KNOW I DO NOT SUPPORT YOU HOWEVER I NEED TO SUPPORT ME IN (fill the blank).
I will sit back and continue to laugh at the misguided lunatics in this place. If Government took the view that hiring a few outsiders would be cheaper for the country everybody would kick up a storm. But it's okay for them to act selfishly themselves. You guys have no clue how economies work. The only way prices can drop here is if utility costs drop. Everybody want, nobody want to pay.
Nido one year is nowhere to be found.
Connot find the same product in three consecutive months.