why are the things cheaper in the weekly market Related: Chapter Note...
Goods are not packed and branded .buyer can bargain and bring the price down. shop expenditure is not there. buyer can move to another shop for same thing in cheap price .all things are available at one place .
why are the things cheaper in the weekly market Related: Chapter Note...
Reasons why things are cheaper in the weekly market:
- Direct sales: In weekly markets, products are often sold directly from the producer to the consumer, cutting out middlemen and reducing costs.
- Lower overhead costs: Weekly markets are usually temporary setups that do not incur high fixed costs like rent or utilities, allowing vendors to offer lower prices.
- Competition: The presence of multiple vendors selling similar products in a small space creates competition, leading to lower prices as sellers try to attract customers.
- Seasonal produce: In weekly markets, you are more likely to find seasonal produce which is abundant and therefore cheaper compared to supermarkets.
- Reduced packaging costs: Vendors in weekly markets often sell products in bulk or with minimal packaging, saving on packaging costs which can be passed on to the customers.
- Direct feedback: Customers in weekly markets can provide direct feedback to vendors, allowing them to adjust their pricing based on demand and customer preferences.
- Flexible pricing: Vendors in weekly markets may be more open to bargaining or offering discounts, leading to lower overall prices for consumers.
In conclusion, the combination of direct sales, lower overhead costs, competition, seasonal produce, reduced packaging costs, direct feedback, and flexible pricing contribute to the affordability of products in weekly markets compared to traditional retail outlets.
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