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To a letter that she wrote about racism for the british observer newspaper. under dutch and kenyan runners have won the race in the london marathon. now it s time for. hello, everybody. a very warm welcome to talking business weekly with me, aaron heslehurst. let s go and take a look at what s on the show. the cost of living has been going through the roof, but can it possibly go up even more? and do prices ever really come down? we re going to be looking at how those prices get set and what goes on behind the scenes between growers, suppliers and the shops themselves. i m going to be discussing all of that with this crack team. there they are. commodities expert kona lasker haque can tell us where the markets think prices of raw materials are heading. kai markus mueller, who s the neuroscientist who gives us ....
Everybody who sells is very, very nervous about prices. indeed, i ran brain scan studies where i could show that the consumer willingness to pay is, in some cases, significantly higher than the value perception of the person who sells. that means there is a strong hurdle and lots of pain on the seller side, which is completely unnecessary. kai markus mueller, an absolute pleasure having you on the show. thanks so much for your time and i ll talk to you soon. thank you for having me. well, you know, in the end, it s the price in the shops that customers really care about. so, what kind of pressure are they under to keep the costs low ....
But these retailers, they often have their own brands. i m just wondering, is that a big plus for them when negotiating? you know, in theory, you should have a chinese wall between your private label business and all the rest, in theory. but, you know, from one side, it can also help them to understand the reason why of price increase, because they have to buy raw materials, they have to buy coffee. they know very well that normally to give you the right dimension of a timing. when i order coffee today, it takes four months before it arrives in italy, and one month, two months before that we transform it and we distribute. so, even if the price tomorrow morning is going to go down 50%, we got six months of tailor that doesn t allow you to ....
Effective depends very much on the perceptual threshold. so, for example, in weight, if i compare two weights, i need at least two grams of difference for 100x100 grams to perceive that difference at all. now, over time, that becomes more, so i maybe forget that last week, you know, that carton of milk or that little piece of tea or so was slightly heavier than this week. so, companies understand what the perceptual threshold for the different units is, they have good chances to make shrinkflation successful. kai, are retailers, are they nervous about raising prices? oh, yes. that is a big issue. ....