CNBC AI News – August 10th – Fruit retailer Pagoda, known in China as Baiguoyuan, is generating buzz online with the hashtag “Pagoda Says It Won’t Cater to Consumers” (#百果园称不会迎合消费者) trending at number one on Weibo.
The controversy stems from a video response by Pagoda’s Chairman, Yu Huiyong, addressing concerns about the perceived high price of the company’s fruit. Yu defended the pricing strategy, stating, “In business, there are essentially two approaches: exploiting consumer ignorance or educating consumers to become more sophisticated. Pagoda has, for many years, been on a path of educating consumers.”
Yu elaborated: “We don’t want to pander to consumers. We aim to inform them, ultimately leaving the choice in their hands. If consumers are uninformed, they are left with no choice but to opt for the cheapest option, focusing solely on price. We believe there’s room for continued optimization in our cost structure, potentially allowing us to offer slightly lower prices to our customers. However, we will absolutely not compromise on quality.”
The video ignited a flurry of reactions online. Numerous users expressed skepticism, with comments like, “You’re making money off me and want to educate me at the same time?” and “The market will provide its answer.” Others pointed to alternative vendors: “Fruit doesn’t necessarily get better just because it’s more expensive. Many local fruit stores sell produce that’s both cheaper and sweeter. If you don’t want to cater [to consumers], that’s fine. It’s not like there’s nowhere else to buy fruit.”
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