Pandemic Profiteering, Plain and Simple': Walmart and Kroger Hike Prices for Covid Tests

[douglas9]

Walmart and Kroger are raising prices for one of the more widely used at-home coronavirus tests, leading critics to accuse the U.S. retailers of exploiting an Omicron-fueled surge in demand for the kits to pad their bottom lines.

The companies said Tuesday that they are moving to hike prices for Abbott's BinaxNOW tests following the expiration of a September deal with the White House under which they sold the kits at cost—$14. Abbott is the firm that, in mid-2021, instructed a factory assembling its tests to destroy millions of the products, citing then-dwindling sales.

Walmart will now offer the highly sought-after kits—which include two rapid Covid-19 tests—for $19.98 per box and Kroger will sell them for $23.99.

https://www.commondreams.org/news/2022/01/05/pandemic-profiteering-plain-and-simple-walmart-and-kroger-hike-prices-covid-tests

[Miguelito Loveless]

1. I have never seen a testing kit for $14

at any store that had them.

[luvs2sing]

2. Hubster paid $14.99 for a test..

back in November. Got it at Kroger.

[Miguelito Loveless]

4. No Kroger's in my area

But the drug stores and grocery stores here all priced at $25.

[bucolic_frolic]

3. Walmart prices have been marching upward for several months

as I've posted several times. Not uncommon to see 12-20% on foodstuffs. WW flour $3.52 to $4.12 to $4.38. Baking powder $1.84 to $1.92. Laptops all up $10 or $20 last week. Walmart will be fine. Customers, not so much.

It's so bad they removed the price check scanners in the store. The prices on the shelves cannot keep up with what's rung at the register. I stopped arguing. I get clipped once and buy next time elsewhere.

[luvs2sing]

9. A little over a year ago, I could save a money at Walmart.

I always check their prices since they’re in the loop with other stores where I shop. As early as last summer that savings dried up, so it’s no longer worth the hassle of going to a fourth store and having the whole Walmart experience.

[bucolic_frolic]

10. I'm with you

Produce, frozens, discounted protein, dairy is about all it can deliver anymore. It's no longer the only game in town.

[WHITT]

5. 'Pandemic Profiteering'

A WHOLE LOT of that going on in the private sector.

THEIVES.

[JT45242]

6. Yes... and no this isn't a fair report

I have gotten these tests for the approximate $20 at walgreens a copy of times.

Walmart is often able to offer products at a lower price for a shorter time by negotiating a lower price from teh manufacture for a "premium" shelf spot, end of aisle display, or a mention in the online ad.

These deals have a set start and end date that is contractually agreed upon. When the deal ends, Walmart goes back to the normal price which in this case is about $20.

This happens with all kinds of products. This is why certain products at Costco get cheaper in their monthly ad and it lasts for about a month.

I would not call Walmart charging the same as Walgreens and CVS as price gouging.

There are plenty of reasons to be upset at Walmart for (requiring tax abatements to build and stay in communities for example) -- but this is not one of them.

[douglas9]

7. Walmart and Kroger are raising prices for BinaxNOW rapid Covid-19 tests after the expiration of a de

Walmart and Kroger are raising prices for BinaxNOW rapid Covid-19 tests after the expiration of a deal with the White House to sell the kits for $14

Link to tweet

[DURHAM D]

14. Kroger in my town never lowered the cost from $24 a box. Period. nt

[essaynnc]

8. CVS $26 for a two pack ! Go after them too!

[Midnight Writer]

11. For profit health care. It's the game, not the players.

[sl8]

12. How much profit constitutes profiteering?

I don't know a lot about business practices, but Google results suggest that 50% is typical retail markup.

If $14 is their cost, they're still selling them at less than 50% markup.

[PTWB]

13. They're not hiking the prices from what I can tell.

The prices were artificially low based on a now-expired deal that they'd made with the Biden administration. The prices are returning to normal after the deal expired.

Is that not correct?

[leftstreet]

15. FFS These should have been free to begin with