Quote:
Originally Posted by browser2920
I really wonder if there would be many cases of lowering current prices at slow times. I suspect that what will end up happening is that the current all day prices become the floor of low prices, and everything else is adjusted upwards from there. I could be wrong though. But this sort of has the feel of when grocery stores first started implementing rfid price scanning instead of the cashiers manually typing in the price off a physical price tag. Multiple studies found that when there was a difference between the price listd on the sticker on the shelf and the scanned price, the scanned price was higher around 80-90% of the time, whereas a random error should reflect 50-50.
I also remember when banks paid you 25 cents every time you used an atm because they wanted to get you hooked on them so they could save money by needing fewer tellers. So when Wendys cites labor savings as trickling down to the consumer, im skeptical.
This isn't at all surprising and doesn't take a conspiracy - prices go up much more often than down, and it's quicker to change prices in a computer system than to put new stickers on each box.
I don't know if prices at Wendy's or other fast food restaurants have already raised their prices a lot in the last few years. If they haven't, I certainly would expect the same thing as you. If they've already raised them a lot recently, maybe not. It will be interesting to see how it goes over with their regular customers though.
I never heard of banks actually paying people to use the ATM, but I do remember waiting in a drive-through bank line in the 1970s for my mother to get cash once a week or so.
It's still ridiculous for banks to charge ATM fees, as it's cheaper than hiring more tellers, as you say. But I think most banks now don't charge if you use their own ATMs at the branches. I've never had to pay charges to use those anyway, and I have had accounts and several banks and credit unions over the years.