Since this whole virus situation what are products we can expect to be cheaper or expensive.
Toilet Paper - cheaper
Flights - expensive
Someone mentioned Cars - cheaper
Products Which Will Get Cheaper and Product which will get expensive within a Month or So?
Comments
Hand sanitiser
Cheaper or more expensive?
Can't sleep?
Apparel
Cars. They're sitting in lots accumulating debt. Sales were low low low last month. It's going to be a fire sale soon, dealerships are going to go bust.
Tissues.
As the majority of panic buying happened in supermarkets, I assume you are referring to groceries?
In that case, I think we will see just the normal circuit of specials by the major players.il rephrase the question to generic. Things which are going to be expensive and things which are going to be cheaper due to this Virus
But then are you talking cheaper now, in a month or long term?
I know you've said a month but given that restrictions are being eased it seems like we are slowly on the way of things returning back to normal (and that will include prices of many things returning back to normal too.)
In that case, I don't think many things will become cheaper.
There may be some items that are currently experiencing a fall in demand, e.g. cars, clothing; but in the longer term the population will have a likely depressed economy to cope with, and those items will not be high on the list of things to spend (reduced) funds on.
I think we will see a shift in demand to more 'comfort' items; perhaps tracky dacks rather than high-end fashion; casual shoes rather than dress shoes; take-away/catered meals rather than restaurants; smaller cars to align with less travel.
Housing may fall in price, but those wanting to sell will almost certainly be looking to buy as well, so if in the same market prices could be stable.
I see Victoria is currently reviewing stamp duty, to reinvigorate the economy, so that could mitigate any fall in demand.
But again, maybe the population will now re-assess if a two-person household really needs 4 bedroom/3 bathrooms, and maybe look to size-appropriate their next home.
Things already in the country and have decreased in demand will be cheaper.
Things that are yet to be imported will be more expensive due to falling dollar and increased cost of shipping.
Yep - so I think things that have decreased in demand in my opinion are:
* cars
* consumables that are longer in demand from restaurants (coffee, condiments etc)
* "last season" clothes, shoes and accessories probably didn't sell well and I would guess prices would be slashed to sell them
* Goods that are sold in a commission based business - I think prices will be slashed to meet KPIs. I know many appliance retailers like The Good Guys employ this business model (and many other retail stores do too)
* Also would be worth keeping you eye out in the super market. Panic buying is over so many fresh meat, produce and fridge lines are being reduced now that demand has declined.I don't believe food becomes cheaper overall (specific items maybe).
Unless something significant changes like new farming methods that greatly reduces the cost of production, cost of distribution, storage and retail will hold the price up. Also, very much like the price of oil (yet unlike oil as consumption never stops), retail pricing is set as high as the market is willing to pay and balanced only by the very limited competition.
Yeah definitely - I agree with you.
When I said "reduced" I didn't mean their original price would permanently be reduced. I meant that now there is less demand more stock is being marked down/reduced to clear more often due to less demand. :)
I agree with your big picture comments, but I think there is rebalancing away from catering/restaurant consumption that could see some short term price drops.
There was a deal recently for 45kg boxes of steaks that would usually go to restaurants.
I was tempted!
Online wine delivery businesses - plenty of sales and promotions to get people to buy while the economy is down.
So you lead with the example - Flights as more expensive.
Well how do you reconcile that with **
https://thenewdaily.com.au/finance/consumer/2020/05/05/qanta…
So how the hell can we know the answers…
** Spoiler - $19 Sydney to Melbourne
Fashion will go super cheap … just wait a bit! Esp. items you buy for special occasions - not tracksuits for sitting at home.
Petrol will go more expensive when people start driving more - but will not reach old levels.Higher end products will drop in price as discretionary spending decreases. So the likes anything that is a nice to have rather than need to have will drop …New Cars, High End TVs are good examples. Staples are unlikely to change much…apart from toilet paper and hand sanitizer as production catches up with demand :) Bricks & Mortar stores will likely promote hard to drive consumers back into store and away from online, similar strategy to which Qantas has advised they'll apply once they can start flying again
Coles is price gouging… no more specials… and they have reduced their product range pushing the brands that give them the best possible profit margin.
How do you equate someone not offering something cheaper than RRP as price gouging?
Petrol up when people start driving again.
been wanting to buy a ute, but hilux, navara, dmax prices havent changed.
try used and with cash.
we sold ours at 65% of asking
Merged from Things That Will Go Cheap in These Hard Times
Hello
We just sold our used car for 65% of what we advertised it for. Cash.I've also heard of big discounts on boats and jet-ski's being done.
Has anyone got tips on other items that will going a bit cheaper these days?
I'd like to say property, but I reckon most prospective sellers will just hold onto their houses until the situation returns to normal (or close enough)
Yeah. There are too many people waiting to jump on 'falling house prices', so much so that they wont actually go down.
Recession or not there just aren't enough houses for the population and most people who lost their jobs weren't high income earners anyway.
Property never goes down as much as what I think it should.
Its already down 10% , another 15% is possible I thinkAnd the government have made it clear they will bankrupt the country to prop up prices… that is important.
And the government have made it clear they will bankrupt the country to prop up prices…
It's an empty statement. Every government has to do that otherwise the country is bankrupt anyway. This way, at least they appear to be supporting a particular demographic.
@[Deactivated]: Thats a very interesting comment, but wrong.
Are you saying the country was bankrupt 10 years ago - because we all know house prices double every 10 years…
Any country with stable house prices does not need to get involved with the ponzi which becomes reliant on high immigration.Interested in your thoughts
Are you saying the country was bankrupt 10 years
That's a strange conclusion to come to.
If someone takes a paycut of 50%, they can be bankrupted even though that may be their former pay when they weren't a bankrupt. Just like a country, it has to do with liabilities. As an entity grows both in asset and cash flow, one takes on greater risks. Often, having either existing assets devalue and/or cash flow halted causes further problems. Much like dominoes.
Any country with stable house prices does not need to get involved with the ponzi which becomes reliant on high immigration.
The increasing price of real estate is as much a Ponzi scheme as the growing population (does not have to be via immigration or confined to local population) is a Ponzi scheme. A true Ponzi scheme hinges on attracting more investors. In the case of real estate, one does not need to do any attracting, the fact that real estate is a necessity, be it for housing or primary production, the need for it grows.
You're rather quick to conclusion so I'll also point out, I am not saying all real estate markets are not Ponzi schemes, merely that not all increase in real estate price must be because of a Ponzi scheme.
Thats a very interesting comment, but wrong.
That's your opinion and you have every right to it.
if house prices were actually to fall 50%, the pandemic was bad enough you'll probably be dead. Or most of everyone else is dead and you're struggling to deal with food shortages and social chaos. Be careful what you wish for…..
@star-ggg: If it were to fall 50%, many corporate entities would collapse.
You would hear the celebration and cheer of the socialists however briefly.
When these entities collapse, the continued operation isn't resumed by the people, it never does. Chain of supply, distribution,etc etc is all affected. This can take years or even decades to re-establish and people will realise that wealth is not a zero sum game.
Some would rather have a lose-lose scenario as long as they have less to lose vs a win-win scenario where they win less.
Real estate, unlike boat and jet skis, are not discretionary.
Discretionary and depreciating assets that have ongoing costs.
Will there be a run on cancelled weddings or will there be shotgun weddings instead?
Shotgun.
I think many people would not have the funds for such discretionary spending anymore.
According to google, the average wedding cost in Australia is $36k. Not having a wedding is greater than any government stimulus the average couple would receive.
OK this is just between you and me..
I'm going to buy a used telescope on gumtree with a lowball offer.
Now that is the epitome of something dumped in the garage that needs converted to cash.An incredible waste of money in my opinion, and I'm very happily married.
It is the grandeur, the 'event', the expense that are all a waste of money.
I'm going with cancellations. Did you even get married if you don't get to act like a Grimm's fairytale princess on your wedding day? How does that old saying go? oh, yeah : it ain't a wedding unless it's instagram-worthy…and shotgun weddings ain't. I know because I had a shotgun wedding.It was sweet, simple and we got our happily ever after. But the background was pretty meh , the decor was meh and it wasn't a glamourous event. And that's coming from the guy who had the biggest and goofiest smile on his face the whole day.
Nope, people are going to cancel or postpone until things go back to normal.
Probably a lot of nervous people waiting to see if their 10-10-2020 reservations were really worth booking years in advance…
wedding venues and other stuff associated with it will be expensive for sure
Everything that normally goes on sale during EOFY