News/Christmas/Fail

[daverobev]

http://www.cbc.ca/news/business/hatchimals-christmas-toy-price-1.3898198

I'm not sure what's worse - the fact that this is on CBC's *business news* section of the website, that it's covered by CBC at all, or the fact that people are whining that electronic and plastic crap that probably costs $10 to make is being sold way over MSRP. These things didn't exist or at least weren't in the public view a year ago and nobody cared; now Christmas will be ruined if you don't get one?

The whole thing is just... waaah waah.

I avoid mainstream news but do go to the business sections of various sites. When you get 'articles' like this in those sections... Bleh.

[ooeei]

I get that it's silly someone wants a toy that badly, but it is kind of a dick move to buy up all of the toys and resell them for 3-10x the retail price.   

Sure, it's something you can do and is a decent profit maker, but that doesn't mean you're not an asshole.  It's like if I bought up all the turkeys before Thanksgiving and sold them for 5x the normal price.  Should it be illegal for me to do that?  No.  Will people think I'm a good person if I do it?  Also no. 

The same thing happens with ammo and concert tickets.  People buy up the shit in bulk to resell it without adding any value.  Obviously the solution is to just get a different (or no) toy, the same way the solution is to just not go to the concert or shoot your guns.  With that being said, I think it's a bummer that's how people spend their time.

[Just Joe]

Every Christmas I can remember going back a long, long time has featured that group of people chasing the impossible to buy fad gifts.

Maybe to them the whole experience is very exciting. Six months from now it won't matter or it can still be found for a fraction of what some scalper is trying to charge right now.

The race around town to buy the elusive item, the prices, the crowds... Nope.

Anybody in a rush to buy a Hoverboard this year?

Or a pet rock with leather pouch? Oh wait...

[daverobev]

I get that it's silly someone wants a toy that badly, but it is kind of a dick move to buy up all of the toys and resell them for 3-10x the retail price.   

Sure, it's something you can do and is a decent profit maker, but that doesn't mean you're not an asshole.  It's like if I bought up all the turkeys before Thanksgiving and sold them for 5x the normal price.  Should it be illegal for me to do that?  No.  Will people think I'm a good person if I do it?  Also no. 

The same thing happens with ammo and concert tickets.  People buy up the shit in bulk to resell it without adding any value.  Obviously the solution is to just get a different (or no) toy, the same way the solution is to just not go to the concert or shoot your guns.  With that being said, I think it's a bummer that's how people spend their time.

Retail is exactly buying something, and selling it for a profit. Sure, if you can corner the market, that's a monopoly and hence bad. And I agree, doing it with tickets that have a particularly limited supply is pretty shady (and they "try" to stop it happening).

My main point wasn't about the thing, exactly, but rather that it's on the *business* news section of Canada's public broadcaster's website. As if it's important (the only reason CBC is covering it is because it's a Canadian company).

[Bumperpuff]

From the article:

 'The steep prices prompted one Toronto parent to blast dealers on Kijiji, posting on the site, "I don't know how these people go to sleep at night."

The answer, of course comes from the Simpsons: https://m.youtube.com/watch?v=GO0JaecRWy0

I also have no problem with price gouging when it comes to toys or other non-essentials with a nearly free market, but Ticket Master is the Devil and I will boycott them and encourage others to do the same.

[okits]

http://www.cbc.ca/news/business/hatchimals-christmas-toy-price-1.3898198

I'm not sure what's worse - the fact that this is on CBC's *business news* section of the website, that it's covered by CBC at all, or the fact that people are whining that electronic and plastic crap that probably costs $10 to make is being sold way over MSRP. These things didn't exist or at least weren't in the public view a year ago and nobody cared; now Christmas will be ruined if you don't get one?

The whole thing is just... waaah waah.

I avoid mainstream news but do go to the business sections of various sites. When you get 'articles' like this in those sections... Bleh.

Well, it IS a business opportunity for those who scooped up the toys early!

I remember seeing the brand new (fully stocked) display at Toys R Us.  Thought it was ridiculous and didn't buy one.  Ah, hindsight!  It could have been an even merrier Christmas for my Questrade account.

I'm not sure whether to be disgusted that people's Christmas can be ruined by not having this year's fad toy, or curious by the circumstances that create this mindset (poverty?  Viewing life through a lens of scarcity?  Cult of consumerism?  An overall superficial approach to life?)

Anyway, it's CBC.  Apparently one day last week the top news story on their site was about a moose struggling to wade through deep snow in Manitoba.  I'm not always convinced they're a great news outlet...

ETA: moose links

[obstinate]

All parents scar their children. One of the ways I will scar mine is by never buying them something like this.

[Playing with Fire UK]

The answer, of course comes from the Simpsons: https://m.youtube.com/watch?v=GO0JaecRWy0

I also have no problem with price gouging when it comes to toys or other non-essentials with a nearly free market, but Ticket Master is the Devil and I will boycott them and encourage others to do the same.

There is a lot more evil when business have a monopoly on essential goods.

[MrsPete]

It looks grossly overpriced at the original $80. 

[Playing with Fire UK]

It looks grossly overpriced at the original $80.

But think of the children. Aren't they worth $80 on a toy that won't last the year and will spend a thousand years in landfill?

[Kitsune]

It looks grossly overpriced at the original $80.

But think of the children. Aren't they worth $80 on a toy that won't last the year and will spend a thousand years in landfill?

THAT would be the problem with fad gifts, yes. Open-ended imaginative toys that will get hours of play? Absolutely. Buy them. Great Christmas presents! Plastic single-use crap that will get a few hours and be put aside because, really, there's only so much you can do with it? WHYYYYYYYYY. So much money, so much waste, so much unnecessary noise in the house...

(And the comment in the article about people 'profiting from desperate parents'... like, no. If the lack of availability of a single overpriced piece of animated plastic crap is enough to make you 'desperate' as a parent, you need to re-evaluate your parenting and life choices, wtf. This is an EXCELLENT opportunity to have a talk with the 7-year-old about desires created by advertising (from the article: kid wants it SO MUCH after seeing it on Youtube! Um, maybe some conversations about advertising and created desire are MORE than past due!), about potential use vs money spent, about prioritizing wants and needs, etc. Forgoing that and saying 'but my kid waaaaants it and christmas will be RUINED otherwise' is nonsense.)

[ooeei]

Retail is exactly buying something, and selling it for a profit. Sure, if you can corner the market, that's a monopoly and hence bad. And I agree, doing it with tickets that have a particularly limited supply is pretty shady (and they "try" to stop it happening).

Agreed.  I just see it like a group of kids is coming towards a vending machine who just went on a long hike, so you decide to buy out all of the sodas from the nearby vending machine and offer to sell them to them for $5 each.

Do they need the soda?  No.  Should their parents be buying them soda after a hike?  No.  Are you kind of an asshole who's adding no value to the situation, and is just taking advantage of the current supply/demand curve and creating artificial scarcity?  Yes.  I don't think it'd be unreasonable for one of the parents to call you a dick.  I probably would.

My main point wasn't about the thing, exactly, but rather that it's on the *business* news section of Canada's public broadcaster's website. As if it's important (the only reason CBC is covering it is because it's a Canadian company).

Fair enough, although I do see it being somewhat related to business.  The fact that you reposted it here shows it at least got your attention!

[TheGrimSqueaker]

I'm trying to get my daughter and her friends to develop some perspective about holiday and special occasion gift giving. For reasons unexplained, high school kids earning minimum wage and working part-time at best) are under the impression that they "have to" spend $40+ per friend on Christmas gifts. I'm not sure where they got such a silly idea.

To my way of thinking, an hour's worth of take-home pay (or less) is a very reasonable gift for a friend or a more distant relative, with two hours' worth of take-home pay for someone like a spouse or your kid. A FI person could calculate it as  1/2000 their annual realized income. Of course it's possible to pay less by using DIY skills or by being a brilliant shopper.

[mm1970]

That article and the thread cracks me up and brings memories of earlier years.

As an example, we recently watched the latest episode of Fresh off the Boat.  And one of the kids asks for "Tickle Me Elmo" (ah, 1996, what a good year).  A neighbor has a room FILLED with toys that she guessed would be the "top seller" each year.  So you can imagine that she made a bit of money reselling, but also had a room full of duds.

Anyway.  Funny.