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Inflation, Why Do Traders Do These Things? - Business - Nairaland

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Inflation, Why Do Traders Do These Things? by Moneyboyz: 6:42pm On Jan 26, 2022
This has been going on for a while now and it's very annoying and criminal.

I went to the market to buy an ox standing fan, a friend of mine bought his 39,000 naira a few weeks ago but he didn't disclose the price cause I didn't ask.

I went to the market to get mine about a week ago and bought same fan for 44,000 naira.
I felt embarrassed and cheated and I'm sure I'm not the only one who has felt this way.

I'm very angry right now that whenever I go to the market to buy something and they start calling figures I ask them what is the price that even if I go elsewhere I will get it for that excat price.

This is a common trend among Igbo boys but now Yoruba and Hausa people have followed suit..

Right now I don't even know the price of fish and other food stuff cause they will first try to extort you by calling some big numbers, it's only through strict negotiation and perseverance that you will get something in the marketplace for the actual price that won't hurt both parties.

I think inflation in Nigeria today is what we made it and not what the government did, I can remember when pepsi and other soft drinks are being sold for 100 naira, some people started selling theirs 120 cause it's extra cold/frozen.

Before we know what's happening pepsi and others increased the prices of their drinks because they realised we are still buying even though it's being sold at enormous prices.

What is the government doing to control these prices? Hopefully someone would ask Mr president and the appropriate authorities on my behalf.

59 Likes 10 Shares

Re: Inflation, Why Do Traders Do These Things? by Felimax(m): 7:35pm On Jan 26, 2022
Government agencies responsible for control no longer care.
Things like these are what you get when your president refers to a portion of Nigeria as a dot in the map.
A grain of sand can be very tiny but becomes so big when it enters the eye. Are you feeling me?

91 Likes 5 Shares

Re: Inflation, Why Do Traders Do These Things? by Moneyboyz: 9:54pm On Jan 26, 2022
Felimax:
Government agencies responsible for control no longer care.
Things like these are what you get when your president refers to a portion of Nigeria as a dot in the map.
A grain of sand can be very tiny but becomes so big when it enters the eye. Are you feeling me?

Yes I do, the rate at which things go up fast is depressing.
There is this chandelier I bought for my house for 50k, another person bought it in alaba for 27k.
Before she sold it for me at 50k sef na war, she said something about prices of things expensive in the market whereas they are the one inflating it.

38 Likes

Re: Inflation, Why Do Traders Do These Things? by Felimax(m): 9:57pm On Jan 26, 2022
Moneyboyz:


Yes I do, the rate at which things go up fast is depressing.
There is this chandelier I bought for my house for 50k, another person bought it in alaba for 27k.
Before she sold it for me at 50k sef na war, she said something about prices of things expensive in the market whereas they are the one inflating it.

Cc seun
Lalasticlala
People are taking advantage of the lapses in Buhari government, that is all.

49 Likes 3 Shares

Re: Inflation, Why Do Traders Do These Things? by Authoreety: 12:50pm On Jan 27, 2022
Mad.... Apart from buhari being a huge disappointment, Nigerians are the problems of nigeria... Especially anyi bu ndi Igbo.... Agaghim ezobe onu.... Ndi Igbo na emeyeiri too much

52 Likes 2 Shares

Re: Inflation, Why Do Traders Do These Things? by tradepunter: 12:51pm On Jan 27, 2022
Sad
Re: Inflation, Why Do Traders Do These Things? by bilo1(m): 12:51pm On Jan 27, 2022
I don't see that act stopping anytime soon...wailing and complaining changes nothing

4 Likes

Re: Inflation, Why Do Traders Do These Things? by Osiris12: 12:52pm On Jan 27, 2022
The government is not in control anymore

There is chaos in the land

9 Likes

Re: Inflation, Why Do Traders Do These Things? by Kollins11: 12:52pm On Jan 27, 2022
Everybody wan ride benz

24 Likes 1 Share

Re: Inflation, Why Do Traders Do These Things? by JoshTim: 12:52pm On Jan 27, 2022
This is where the government should come in and enforce price controls. There should be caps. You quote your goods beyond a set price for a commodity, you won't even see buyer because everyother seller sells within that limit.

1 Like

Re: Inflation, Why Do Traders Do These Things? by Kobicove(m): 12:52pm On Jan 27, 2022
A person who goes by the name MoneyBoyz is complaining about money...what an irony! undecided

22 Likes

Re: Inflation, Why Do Traders Do These Things? by money121(m): 12:52pm On Jan 27, 2022
Ok
Re: Inflation, Why Do Traders Do These Things? by sammysmiles(m): 12:52pm On Jan 27, 2022
Prices vary in Locations
And if you present yourself a big Man, you are on your own

3 Likes

Re: Inflation, Why Do Traders Do These Things? by adecz: 12:52pm On Jan 27, 2022
undecided



⏩E be like say Moneyboyz just
dey enter Nigeria....

If mugu dem no fall, how guymen
& shop boys go take chop❓☺️ grin grin☺️

⏩If you know say you no sabi bargain,
make you dey go ShopRite or other megastores▪️▫️◽️⚪️⚫️



No come dey disturb our
peace for Nairaland.. ❌

9 Likes

Re: Inflation, Why Do Traders Do These Things? by TOPCRUISE(m): 12:52pm On Jan 27, 2022
Every body want to exploit his Neighbour

2 Likes

Re: Inflation, Why Do Traders Do These Things? by BlackfyreRebell: 12:53pm On Jan 27, 2022
That was how one useless fvcker almost cheated me.
I wanted to buy a teatree facial scrub,the price tag on it says 1400 only for the woman to tear it out and said it's 2400 cos it's now expensive in the market.

Wtf! I changed it for her that moment. Imagine selling something old you bought cheap for a price of new cos it's now expensive.

25 Likes

Re: Inflation, Why Do Traders Do These Things? by Omotosho1090905(m): 12:53pm On Jan 27, 2022
Moneyboyz:
This has been going on for a while now and it's very annoying and criminal.

I went to the market to buy an ox standing fan, a friend of mine bought his 39,000 naira a few weeks ago but he didn't disclose the price cause I didn't ask.

I went to the market to get mine about a week ago and bought same fan for 44,000 naira.
I felt embarrassed and cheated and I'm sure I'm not the only one who has felt this way.

I'm very angry right now that whenever I go to the market to buy something and they start calling figures I ask them what is the price that even if I go elsewhere I will get it for that excat price.

This is a common trend among Igbo boys but now Yoruba and Hausa people have followed suit..

Right now I don't even know the price of fish and other food stuff cause they will first try to extort you by calling some big numbers, it's only through strict negotiation and perseverance that you will get something in the marketplace for the actual price that won't hurt both parties.

I think inflation in Nigeria today is what we made it and not what the government did, I can remember when pepsi and other soft drinks are being sold for 100 naira, some people started selling theirs 120 cause it's extra cold/frozen.

Before we know what's happening pepsi and others increased the prices of their drinks because they realised we are still buying even though it's being sold at enormous prices.

What is the government doing to control these prices? Hopefully someone would ask Mr president and the appropriate authorities on my behalf.

We are the government, we are making this nation unbearable for ourselves

12 Likes 1 Share

Re: Inflation, Why Do Traders Do These Things? by israelmao(m): 12:53pm On Jan 27, 2022
Since Buhari came back to power Nigeria has been standing on its apex,it is an uneasy stand.

3 Likes

Re: Inflation, Why Do Traders Do These Things? by Offpoint1: 12:54pm On Jan 27, 2022
That's why you need street sense and bargaining skill...

If an igbo man gives you 15k starting price... kindly respond with "You no collect 5k" from their you add2k max, don't go above 7k.
If an Hausa man gives you 10k starting price... respond with "you no collect 6k"? add 1k to it as last price.
If a Yoruba man gives you 10k starting price, respond with "you no collect 4k" add 2k it as final price....

Don't pronounce the "Collect" correctly, pronounce it as "Ke-lect"

51 Likes 3 Shares

Re: Inflation, Why Do Traders Do These Things? by RealityGod: 12:54pm On Jan 27, 2022
Everybody one cash out

2 Likes

Re: Inflation, Why Do Traders Do These Things? by TabletSenorita(f): 12:54pm On Jan 27, 2022
Do what
Re: Inflation, Why Do Traders Do These Things? by SPLENDID25(m): 12:54pm On Jan 27, 2022
lol
Re: Inflation, Why Do Traders Do These Things? by Nobody: 12:54pm On Jan 27, 2022
cool
Traders are trained to catch you by the.. grin grin

2 Likes

Re: Inflation, Why Do Traders Do These Things? by pocohantas(f): 12:54pm On Jan 27, 2022
Everything is now inflated. Food, rent, transportation.

A lot has changed in the past one year and being among the living is now luxury in Nigeria.

13 Likes

Re: Inflation, Why Do Traders Do These Things? by Weathered: 12:54pm On Jan 27, 2022
Igbos corrupt the micro economic environment.

Yorubas corrupt the corporate and macro environment in Nigeria.

7 Likes 1 Share

Re: Inflation, Why Do Traders Do These Things? by SavageResponse(m): 12:55pm On Jan 27, 2022
Op let me ask you - Is it the same amount you were receiving as salary in 2016 that you are still receiving today?

Why then should you expect a trader to keep selling an item for the same price if the cost of procurement by the trader has gone up due to inflation?

Aside this you also need to learn to bargain when in the market

9 Likes

Re: Inflation, Why Do Traders Do These Things? by Aforxzy(f): 12:55pm On Jan 27, 2022
The prices of things in the market keep soaring everyday that its becoming difficult to keep track.
If you buy an item today be sure to go with extra cash when next you want to buy it.

The government isn't bothered because they are more concerned about 2023 election.
Too bad

3 Likes

Re: Inflation, Why Do Traders Do These Things? by emmanuelbrown26: 12:55pm On Jan 27, 2022
When 15million useless and gullible zombies voted a lifeless man to handle the affairs of the nation, what were u guys expecting? Were u expecting miracle or magic?
As it is, inflation has come to stay and their is nothing absolutely nothing anybody can do about it.
I only pity another thief that would take over from the lifeless one bcs d damages which this lifeless one has done would take many many years to be cleared.
15millions useless zombies hope u guys are enjoying the change u guys voted for.

13 Likes 1 Share

Re: Inflation, Why Do Traders Do These Things? by kernniejay(m): 12:56pm On Jan 27, 2022
Nigeria is already in a state of anarchy in terms of prices in the market. Everyone is just calling outrageous prices as they like on whatever they sell, thereby worsening the already ravaging inflation in the country. Come to computer section on Nairaland and see how computer village boys are extravagantly tagging prices on used laptops all in the name of dollars.

26 Likes 1 Share

Re: Inflation, Why Do Traders Do These Things? by onez: 12:56pm On Jan 27, 2022
Nigeria inflation is not supply or demand constraints but greed.

8 Likes 1 Share

Re: Inflation, Why Do Traders Do These Things? by gift2xl: 12:56pm On Jan 27, 2022
Nigerian's are the problem themselves.

9 Likes

Re: Inflation, Why Do Traders Do These Things? by sirqeeboi(m): 12:56pm On Jan 27, 2022
Moneyboyz:


Yes I do, the rate at which things go up fast is depressing.
There is this chandelier I bought for my house for 50k, another person bought it in alaba for 27k.
Before she sold it for me at 50k sef na war, she said something about prices of things expensive in the market whereas they are the one inflating it.


In this ur situation, the sales girl decided to inflate the price on her own.if u buy it that price she gained and If still didn't buy it.she will still collect her salary.
I ave noticed this..when a sales rep is alone in the shope.

10 Likes

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