A tiny point of anecdata: this weekend I saved a particular tote bag to my wishlist (not Amazon). It cost $49 and is apparently made in Australia. Today the company sent one of those "Don't you want to order the thing you looked at?" emails. The current price? $75. A 50% increase overnight.
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Doesn’t change that diminished demand makes goods costlier to produce. That cost also transfers to consumers. And it gets taken into account beforehand.
Learned that in a high school Econ class.
I mean, it’s a real threat. But they’ll also use it to push sales up in the short term, while they still don’t have to feel it.