A shareholder wanting a return on his/her hard earned money is not greed...just business. A retailer building outlets to increase sales and lower costs is not greed...just business. An internet retailer developing a different business model with even lower costs that let him sell cheaper and still profit while squeezing out his brick & mortar competitors is not benificence...just business.
I am counting on the businesses that I have invested my retirement savings with to keep the checks coming until I assume room temperature. If that is greed then someone has rewritten Websters recently.
Let's not even go there how unscrupulous business practices driven by pure greed led the world into recession recently. I also rely on investment savings now that I am retired, but I can't condone shonky business practices that hurt other people so that I can be comfortable in my retirement.
It is greed when they do this to deliberately wipe out the competion, so that they can monopolise the market WITHOUT passing on cost savings, but purely as a vehicle to charge whatever they want.
Admittedly, I haven't read Websters' definition of 'greed'. But to me, its going to be greed if a business justifies whatever action it follows on the basis of 'competition' rather than 'its what customers want'. To me, greedy in this context is just another word for unsustainable. Selfish would work just as well as a place-holder for unsustainable.
I suspect what you want is the most best stuff you like at the least cost & the seller that offers that to you is going to get your business period. Those with character too weak to resist "pushy advertising" are simply commercial sheep walking toward the slaughter pen...should have worked harder at Rational Thinking 101!
I'll put your suspicions to rest then - not exactly. I'm interested in doing sustainable business. So I wouldn't buy from a seller who it seemed to me to be buying my business by undercutting everyone else. But other than that - yes, isn't that what everyone wants?
Yes, but that's beside the point.
Nobody has said that.
I would have preferred to have purchased my TV from a Dick Smith store, even if the overall price was slightly higher, rather than an unknown on-line retailer, where warranty return procedures could be a little more difficult.
How can a large nationwide chain with it's massive purchasing power justify pricing of several hundred dollars more than a much smaller online retailer, who I presume has adjusted his costing so as to remain financially viable ?
I doubt that DSE was not able to negotiate a better price from the distributor than a smaller on line operation, due to much greater quantities being ordered by the DSE distribution centre.
Many online sellers have very small warehouses, in suburban fringe locations with very small rent in comparison to what DSE in a shopping centre would pay.
Often online sellers don't actually hold stock. They take your order, and then forward your shipping address to the local distributor for shipping. Hence their overheads are very small.
I assume that DSE could do better pricing, but at the moment they are clearly not worried about competing with online stores. I have been to shops many times and asked if they can match the online price. Sometimes they have been able to and other times not. A shrewd shopper would check online for the best price in advance of making a purchase.
Often online sellers don't actually hold stock. They take your order, and then forward your shipping address to the local distributor for shipping. Hence their overheads are very small.
I assume that DSE could do better pricing, but at the moment they are clearly not worried about competing with online stores. I have been to shops many times and asked if they can match the online price. Sometimes they have been able to and other times not. A shrewd shopper would check online for the best price in advance of making a purchase.
Erin
In the case that I mentioned, the seller did not have that size TV in stock at his local warehouse, so he located one at another of his stores and had it sent to his main warehouse on the NSW Central Coast, (?) and then by a courier to me the next day.
He obviously still made a profit, so that shows that although stores like DSE have higher overheads, they could be far more competitive if they wanted to.
Alex
In the case that I mentioned, the seller did not have that size TV in stock at his local warehouse, so he located one at another of his stores and had it sent to his main warehouse on the NSW Central Coast, (?) and then by a courier to me the next day.
He obviously still made a profit, so that shows that although stores like DSE have higher overheads, they could be far more competitive if they wanted to.
Alex
The stock market is a good way for companies to raise money to fund further research, development, plant and equipment etc.
But I despise it for a number of reasons.
I really don't like the way it (the stock market) is subliminally advertised as a way to make fast money.
The way that there is an assumption made that shareholders want big dividends every year, ignoring sustainable business practices.
The way stockbrokers can through intention, or error, cripple the world through a few big transactions.
The way businesses can through intention or error, misrepresent the health of their business creating stock market chaos, with the trickle down effect costing jobs worldwide (GFC)
Once upon a time I'm sure stock markets were there for companies to to raise money to fund further research, development, plant and equipment etc.
and pay a dividend to the share holder. Simple. You believe in a company, you like the ethics of the company, you like their product, you have faith in the success of the company, you buy the shares, wish the company well, and in 20 years sell your shares, and in the meantime take the dividend.
It's just moved a long way away from the original concept.
These days it seems more and more like gambling.
Stocks being bought and sold everyday.
I don't see much difference between a guy reading the daily form guide (horse racing) and another guy reading the stocks and shares page.
Not having a go at anyone who has shares, rather the impersonal faceless "machine" called the stock market.
Its cool Alex, I was meaning to agree with you and just making a point that the online seller often has lower operating costs
Its cool Alex, I was meaning to agree with you and just making a point that the online seller often has lower operating costs
Hi Erin
The low overhead part also seems to work for the major retailers who are presently crying about unfair competition with online sellers. How often have you in the last few years went to purchase something on display , to be told that they don't have one in stock, but will take your order and send one out to you ?
Chances are that many times it will be sent directly from the distributor !
Many "brick and mortar"stores don't hold much stock either in store, or in their warehouse these days.
Alex
Yes, it's "Hardly Normal" is it ?
For non Aussies.
"Hardly Normal" is the nickname for "Harvey Norman",which is a large group founded by multi-millionaire Gerry Harvey,($1.4 Billion!) who started the present campaign here about unfair competition from online retailers., and had to back off due to the reputation of his chain of stores being damaged due to consumer backlash at his published comments. (on TV as well.)
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Agree. Patents and copyrights have gone pretty much the same way. As for stocks being bought and sold everyday - have you read about HFT (High Frequency Trading) ? These days, with the right server location you (or rather your pre-programmed algorithm) can buy and sell in sub-millisecond time frames. Its all zero-sum of course, so whenever they 'win', someone somewhere loses - the loser is the retail-level investor. These days, the stock market is pretty much for the professionally-equipped gambler with a printing press for dollars behind him.
I'm glad I'm not the only one who sees it this way.
I don't claim to have the answer to this, but laws preventing the sale of stocks and shares for two months after initial purchase should bring some sensibility back to the stock market. This should take a certain amount of the "game" out of it.
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But lacks the spirit of capitalism.
Greed drives everything.
As for online sales, the retailers (the smart ones) are doing this too. I recently bought 2 items from a large electronics retailer here (Futureshop) and there was no difference in the store price and the shipping was free. From my perspective, it is better - I did all of my looking online, selected the item I wanted without putting up with some 17 year old 'sales associate' hounding me and I didn't have to go anywhere. The items were shipped right to my door.
I'm glad I'm not the only one who sees it this way.
zero hedge | on a long enough timeline, the survival rate for everyone drops to zero if you want encouragement from more who think in the same way.
Its a band-aid on a malignant tumour. I'm of the view that the whole system needs to be rebuilt. That is, after its collapsed under its own weight.
But lacks the spirit of capitalism.
Greed drives everything.
I'm all for capitalism, don't get me wrong. I'm against hyper capitalism, where the purpose is to make a buck and to hell with everything and everyone else.
I agree, I like online sales. This thread can go where ever people want to take it. Thanks for your comments.
Perhaps I'm missing something vital, but I can't see how this is sustainable - retailers offering retail levels of service for online prices. Can you? ISTM it only works at present because few people are savvy enough to ask for the online price when at the counter. Once everyone is on to the game, the house of cards comes tumbling down.
I used Taobao here to determine the going price for recordable CDs. There are retailers advertising on there, they even give their addresses. When I turned up in person they refused to give me their online price. To me this makes some sense so I now expect to pay a certain premium for retail purchases.
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