The high price of one drink appeared to have shocked one customer into posting a photo of its receipt online, and saying that it’s the “1st and last” time he’ll ever do so.
Indeed, the soaring prices of food items, especially in Singapore previously known for its delicious, high-quality meals and drinks at reasonable prices, have been a topic of many social media posts this year.
On Saturday (Oct 15), Mr Ken Yee posted a photo on the COMPLAINT SINGAPORE Facebook page of a receipt for “homemade” lemon tea that cost him $2.70.
The receipt shows that the tea was bought at Koufu Cook House at Waterway Point mall in Punggol Central.
Mr Yee’s post has received nearly a hundred comments since it was put up.
For comparison’s sake, a glass of lemon tea can usually be bought at many kopitiams for a little over (or maybe even under) one dollar.
However, several netizens remarked that prices are higher for many things these days.
One commenter said that this type of high price for beverages is common nowadays and is the “norm these days” and therefore they bring their own water bottle when they go out.
Others tried to “guess” what jacked up the price of the drink.
Another wrote, “Businesses just passing the cost to consumers..that has been the SOP.”
“No choice everything is up,” wrote another.
A netizen pointed out, “Drinks are more expensive then (sic) food. Is nothing new.”
Indeed, it’s a well-known industry practice for food and beverage establishments to raise the cost price significantly for drinks, as these offer higher profit margins.
An article in economicshelp.com says that most people look at the prices of food when considering where to eat, and rarely look at the drink menu.
“The profit margin on food may be say 10 per cent, the profit margin on drinks maybe say 50 per cent.
If the restaurant did it the other way round and made meals more expensive and drinks cheaper, would it get more customers? It is most likely it would get less,” the piece adds.
And in this difficult economic time where profitability means survival, perhaps this is even truer than ever. /TISG