Could the long era of low prices über alles be starting to wane?
This has been the year of product recalls, mostly toys, mostly Chinese-made. The drive to reduce costs to keep prices low has led contract manufacturers to cut corners and push out substandard and sometimes dangerous product.
American companies have responded by refocusing on quality assurance and making sure that their suppliers stick to the specifications. That, by itself, will have some upward impact on prices but the larger, more consequential effect will be if consumers start trading quantity for quality.
Early results from Black Friday including the crushing crowds at the many 12:01am store openings offering early bird discounts suggest perhaps not, but let's give it some time.
Monday, November 26, 2007
Buying better, even if it means buying less
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