Choice yesterday released a report indicating that several significant retailers hiked prices during the Covid lockdown.
Between 18 and 19 March 2020, for instance, just as the national lockdown was about to come into effect, the price for a 237L vertical freezer from Winning Appliances went from $2085 to $2850, and it stayed at the higher price until early April.
It was a 37% price increase overnight. Over the six-month period we analysed, the biggest previous price jump for this freezer from Winning Appliances was 10%.
Why does this matter here? Small business retailers can share the Choice story to underscore a different between big business and small business.