Economic crisis and rising vendor prices?! wtf!?

[Ana]

K I don't know if there's a post on this already, and if there is MODs feel free to move this or close it down.

 

I am baffled and pretty angry. I don't understand, when the world economies are crashing around us and people are losing their jobs left right and center, how is it effin possible that Cabo vendors (i'm generalizing because I'm planning this wedding in Cabo) have the courage to inflate their prices by 30-90%?!?!?!?!?! Am I on glue?! have I somehow missed out or slept through that chapter on economic theories?! and yes I said "INFLATE" because their prices are inflated and not at all a reflection of reality. grrrr! I am so angry! Vendors around the world are losing business, people are losing their jobs, economic spending is at an all time low, am I to believe that in Cabo things are different?! eff! can someone just give me some perspective? because clearly I missed something!

 

 

phew, ok i feel a bit better now but seriously, I'm about 2.5 seconds away from having a heart attack

[mich999]

Ana - I am confused by it as well. I don't have any basis for thinking that prices are skyrocketing, but I certainly haven't noticed them going down or offering much in the way of incentives when negotiating with vendors. Perhaps they're trying to protect themselves from less bookings by charging more. I think it's just the wedding industry generally - everything is a rip-off, in good times and bad!

[Ana]

yea well if they're protecting themselves for less bookings by charging more than clearly they are totally ignorant on how economics work lol! they might have a very swift and very harsh realization soon

[TammyWright]

if people will pay it then it is priced where it should be. the market has spoken. basic supply and demand.

[rodent]

prices going down is actually more dangerous for the economy. there is a lot of concern that we are experiencing deflation.

 

Could it be that things are worse in cabo so they are trying to make up for it by charging tourists more? sure people might buy less, but there might be enough people that will pay it. 90% sounds like a huge jump though. i could see it if the person has be starting up a new business that has taken off.

[leahstafford]

All supply and demand. Some people who are just starting off will charge less and take on way too much work for them to handle so they will raise their prices and lower their client count a little bit. It's not ignorance to the markets or the economy but rather intelligence to what they know they need to do to keep their business running.

 

I personally wish I could take on every client of every budget but I only have some many hands and sadly only 24 hours in my day still.

 

Also I am sure that destination weddings becoming a huge hit within the last couple of years has contributed to the huge inflation of prices in tropical locations.

 

gl planning and with your vendors!!!

[Ana]

I understand supply and demand, I also understand pressure on the vendors to raise their prices. I'm not advocating for everyone to pull the chute and drop their prices, I'm talking about being realistic and staying informed on current market trends. Maybe the solution is keeping prices constant instead of jumping from $700 to $1000 for transportation, in a matter of 1mo.

[SunBride]

Yeah, you are right that in general prices should be going down, people should be charging less for their goods and services to encourage people to buy them seeing as people have less money to spend.

 

BUT, like the other girls said, if demand has not changed for wedding products/services as a result of the economic conditions, then they will increase their price if that is what have done anyways

[jewls567]

I personally agree with you Ana because I think it's outrageous how resorts like Sandals where we're having our wedding can actually raise prices during an economic recession, do they not realize that they already overcharge insanely & who will they expect to stay out of the bride & groom's guests if no one will be able to afford it? Same goes for the crazy airline industry

 

I also think that photographers raising their prices is unfair when they should realize that brides will be looking for a better deal not for how much the photographer's ego has inflated lol )

 

Grr.. some vendors are just not too smart in my opinion...k done complaining

[JGAMMAGIRL77]

This also seems to baffle me. Ana, besides transportation have you seen an increase in any of your other vendors?