Even in an open market, we tend to see disparity in the prices of products from one shop to the other. Aren't prices supposed to be uniform? Why are product prices different from one shop to another even in an open market?
What causes disparity in prices of products from one shop to the other?
- Thread starter Kross
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What you are experiencing only happens in Nigeria where there is no price control. In advanced countries, the price of goods and products are uniform . Due to high inflation rate in Nigeria, it is difficult for Nigeria government to regulate it.
I also often notice the difference in prices of the same item from one store to another, of course mainly caused by profit-setting strategies, operational costs, level of competition, store location, etc.
I think it has to do from where and how an individual store sources it's products to sell. That causes the differences in prices.
eLdavis
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There are different factors that can cause this. Each seller has their supplier, they tend to consider the cost of transportation and so on.
Shops with more competitors, both within their store and in the local market, tend to offer lower prices to attract customers.
