I was shopping at the GAP the other day looking for a cardigan or sweater. I noticed a wall of fleece zipper jackets on sale. Perfect. In typical GAP fashion, there were several different colors available – grey, baby blue, pink, etc.
I checked the price of the grey one – $15. Nice – just what I’m looking plus inexpensive. So I picked up the pink one in my size and went over the check out counter.
My total bill should’ve been around $30 + tax, but it was a few dollars more. I looked at the clerk quizzically. He said, “Oh the prices are different for the grey vs. the pink one.” Ok – I’m curious, “Why?” I asked. The response, “It’s because we have more pink in stock so it’s more expensive than the grey one.”
Did you just raise an eyebrow like I did?! Yes, according to GAP, the more something is in demand, the LESS expensive it is, but if I have TONS of it in stock, it’s MORE expensive.
Frankly, if it’s the same item, in a different color, I believe it should be the same price. Don’t get me wrong, I like the fleece jackets.
So for all you demand-supply economics majors out there, how much does a fleece jacket cost?