Why Do We Pay So Much For Mooncakes? | Money Mind | Inflation
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- Опубликовано: 4 сен 2023
- A mooncake only costs a few dollars to make. Yet, many of us shell out many times that for these seasonal treats during the Mid-Autumn festival. Why are the prices of mooncakes rising - and is it just because of inflation?
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The answer is simple, because there is a large group of people that will keep paying the higher prices just to impress others.
(And the vendors CLEARLY understand this mentality )
Congratulations to those customers on happily swallowing the con !
Same like why scalpers still exist.
Bigger gift, bigger promotion or better relationship. Mostly.
@@oakspines7171All the ethnic Chinese are foolish consumers if you compare the prices of mooncakes sold in smaller Malaysian small towns. To be honest its GP is way higher than the 2.7 trillion USD Apple. You buy the ingredients to make yourselves or you do any analysis based on BOM then one would realize it's a conned job.
I used to buy mooncakes for my parents in law, my boss, during the festival to keep up with tradition. Just like during Lunar New Year, I would buy high end bakua (sweet sliced pork). My family don't consume those, they mention the charred meat is carcinogenic, mooncakes is too sweet as they are worried of diabetes. After everyone told me not to give them citing health reasons, I stop. Good for them, good for my wallet too 😅
It's cheaper to make than buying from a bakery or store.
At least they are being honest and concerned about health. Traditions are created by people, it should be modified
Shouldn't your boss the one giving out mooncake box to employees?
Agreed. I have stop buying mooncakes for festive givings and own consumption a few years ago. 😊
U dont eat them everyday its just in festival season so diabetes and cancer thing is so false. Just admit it, no money or thyre frickin stingy
Cost is still relatively low but the increase is absurd. Everyone is taking the advantage of inflation to jack up the price.
Totally agree. Raw materials price increase is definately one, but the whole programme, none of the owners talks about the margin. They have to up the price lor, else who pay for their private housing loans, their Merc and BMWs? lol
We should all boycott mooncakes until the prizes all go down. This is just pure greed by the sellers!
Mooncakes are one of those things originally meant to be gifted out of sincerity that people somehow grew entitled to receive and just got out of hand. Like grand opening flowers and wedding red packets (seriously why tf do I have to pay a premium when YOU were the one who decided to hold your wedding at an expensive location because YOU wanted face?).
Absolutely! Robbing just in the name of culture/ custom. Culture can bring you ruin if you're not smart about it . 😂😂😂
The mentality of mooncake buying here seems to have become tied to giving face, elaborate packaging and extravagant price tags. Getting more reserved for people with money to spare. Yes prices are increasing, but I was shocked and disheartened that such a modest food has risen up rapidly and even the low-end sets cost easily $60 minimum. I'm sticking to the little neighbourhood bakeries if the craving strikes lol.
I understand that raw materials have increased in general but those are basic essentials like sugar, flour, oil, etc but not abalone, birdnest, etc. Those mooncake makers just want to get more profit out of it, together with elaborate overpriced packaging. Make yourself or go get from JB... more than 50% cheaper...
Sure.. cost of ingredients might have gone up but to increase the final cost by over 8-10% just smacks of greed… consumers are also suckered into paying for packaging
It's the same old bs lies sellers give all the time. Will never pity them when they fall on hard times.
I haven't had a mooncake since childhood, I can say for a fact that it's outrageous.
You ask these producers why it cost so much, they tell you it's all about the cost.
Go visit google and type in the same question or directly search for profit margin on mooncake, you'll know the real reason.
Margin in these things are more than 60%, pure greed due to celebration and holiday.
This is a strange thing, like western countries tend to have stuff on sales during holiday, but Asian culture tends to be opposite, they hike up price when timing is right. Like food and clothes are pricier during new year celebration. it's like they know you will buy because you must/have to buy, therefore, they should make as much as they could off you.
The price of these ‘Mooncakes’ along with it’s ridiculous packaging ( for face value) is just crazy!
Price of mooncakes from top hotels and restsurants are ridiculously pricey now
Tradition and nostalgia are the biggest scam. Early 2000s was when I last eaten mooncakes. After that, it has become unaffordable. So I just stopped buying them.
Interesting how there are many comments complaining about the costs when the day to day basic costs went up substantially more. I mean have you compared your utlities bills to the past years?? Mine almost doubled!!
I just make them at home since it's ridiculously easy and fun to make. Also, no one actually eats them and it's mostly just for decorations. I asked people to stop giving me mooncakes unless its home made. and..... instead of giving my staff mooncakes- I just give them red packets instead, and to my business friends, little gold figurines - lol! At least its more useful to them.
The price of a lotus no yolk mooncake at Eastern Bakery in San Francisco is $31.00 for a box of four or $7.75 each.
The cost of mooncakes ingredients arent costly but the spike in selling price is ridiculous. Frankly the inflation is crazy in Singapore. With the consecutive increase in GST coming next year, its not surprising that cost of living will be much higher and increasingly unbearable.
Staying free from greedy extortion pricing is a good reason to keep the art of making mooncakes at home alive. By failing to pass down the recipe and skillset we've eliminated a major source of competition from these wasteful packaging factories - ourselves.
Really sad to see that simple things like this became unaffordable... We are now paying for boxes that become trash, marketing and advertisement fees, greedy sellers who are out to make a quick buck. Similar to durian, we are paying for things we can't eat that turn into rubbish....
they all have high end gimmicks packaging and all "trendy" flavours trying to implement.. at the end you are just paying for the inflated packaging and brand name
They throw away the packaging immediately, forget about environmental consequences
Musang king flavour?😂
@@___beyondhorizon4664p
The fish/piglet/cartoon shaped, no fillings moon cakes are the best
My fav is the piglets. Your comment reminds me to get some later at the supermarket 😊
Overpriced. Don’t listen to their BS. Everyone stop buying then cost be back down earth.
The price is high due to packaging, sure. But those without fancy packaging aren’t much cheaper. So there is not much of a benefit to get the less packaged ones (besides sustainability) since you don’t get much of a discount.
No I bought from a friend of mine the package is nice and most important the mooncake is nice n fresh ONLY FOR 40 Plus with yoke .
Hahaha yes packaging
This is simple price setting by suppliers. The reason why mooncakes are so expensive is not due to increase in price of flour, sugar or whatever as other similar commodities using these same ingredients did not increase in price at the same magnitude as mooncakes. Simply the mooncakes are expensive because suppliers wishes to make more money from consumers.
In the past, suppliers did not want to make money?
@@csrjjsmp Everybody wants to make money. That is the nature of business. However, the argument provided by one of the manufacturers / bakers that their selling price have gone up solely based on the increase in price of ingredients is misleading. The balance here is how much more money they wish to make versus the cutting out consumers who can no longer afford / justify the higher prices.
@@konachan01I literally can’t make it any simpler than I already did. Reread it if you must. Good luck.
I've stopped eating mooncakes. They are so high in calories and unhealthy.
I made my own mooncakes following some YT video, better than any mooncakes I've bought!
yeah its fun right to bake our own mooncakes, this year also my 2nd year of baking my own mooncakes, n 1st time for me this year to sell it as well
My mom ,a malay woman make this for all her chinese friends.same with other kueh for CNY.
🙏 Thank You So Much for Mother Makcik for preserving traditional Kuih & Cakes for the current generation! 🌷🌿🌍💜🕊🇸🇬🇲🇾
Mooncake tastes just like the regular localized mooncake in our country called hopia (popularized in Manila Chinatown I think). Good thing there’s a cheap mini mooncake version for $3usd that I just bought today because I want to pair it with my coffee snacktime lol. It’s still super pricey yet taste just the same (red mung bean paste I think). I guess we are lucky that the people here has adapted the cheap localized mooncake version that is available to the masses and we can eat it any day (altho the quality ones are still from our Chinatown but good thing there are online shops).
This is an informative video about mooncakes. 😊 I usually enjoy buying mooncakes that are low in sugar.
People are caught up by fancy gifting packaging versus the quality of the mooncakes which is a pity. I have received many very beautifully packaged mooncakes mostly by hotels but sadly, the taste is far from good. I find the home baked ones tastier, fresher and cheaper. Jelly mooncakes and ice-cream mooncakes are way better than the commercialised mass produced ones.
i never liked them
I actually prefer other pastries at the bakery or some of the non traditional mooncakes. The traditional ones are super sweet and rich.
Totally bullshiting on blaming the constantly increasing mooncake price on the ingredients. We all know prices of sugar and nuts and floor and petrol fluctuate year on year. The price increases each year for mooncake is way more then the ingredients (even when the core ingredient price was lower then previous year).
Just ask the mooncake maker to show their profit margin over the past 7 years for the mooncake only (without the box and factor out the salary fixed cost)... you will notice theee is always a minimum profit margin while no maximum profit cap.
Yes, totally agree with you on that! I too wonder how much is the profit margin on this.. These sellers only know how to blame on increasing costs and jack up their prices big time. Best solution is not to buy from them.
Key point of moon cake festival is priceless gathering with friends and family... Not about fancy packaging
I am a Asian, we celebrate the Moon Night festival, instead of buying an VERY EXPENSIVE box of 4 moon cakes I can take my whole family to Mac Donald and then a movies, the kids love that.
The boss said the price of material went up significantly. The total raw material costs of a box of $90 mooncake is less than $15 dollars, and you told us due to rising cost, you have no choice but to increase the price? really bullshit
Tradition dies hard. The price mark-up (for whatever justifications) is the main cost.
Living in the US, i can wait until after the official festival date to buy it at discount 😅, especially the metal box brand. I recycled the metal box to keep small things organized. I always believed that fancy packaging add cost, before this guy admitted it on camera!
Its good that we don't have business to business gifting practice. In corporate offices, it illegal to accept gift exceeding a certain amount established by each corporation. For example, for Christmas, if a supplier wants to treat its big clients, they will take the department out for lunch, no individual gifts. That's to avoid corruption and favors. Once s client sent us a big fruits basket, but it was delivered after Christmas 😅
I bought a box at Costco for $13. I'm shocked to find that it's a bargain compared to the prices in Malaysia and Singapore even AFTER the conversion.
The $13 double yolk taste pretty good
my family once received moon cakes from a Chinese friend. they were amazing and delicious. we had a very small piece each with tea and they lasted for a long time. such a special treat and a lovely gift for us here in New Zealand. I would love to have them again some time.
All things traditional can't run away from inflation. It's up to consumers to decide whether to buy or make their own.
Keep the box after you finish your mooncakes because that where most of your money went.
It is not the prices of flour, sugar etc that make the price of mooncake so expensive…
It is because no matter how expensive the price it is… people will stil buy it… 😂😂😂
So why should you sell it cheaper???
Ordinary ingredients available everywhere.
Costs are from packaging,, advertising, branding & sales booth & floor space rental at Malls
It's all tied down to traditionalism and culture behind some of the eastern asian countries. Vietnam for one of them, adapted this tradition to gift to signify various meanings to friends and families. I personally never liked it cause it had a slight saltier-taste to it and the egg. I prefer the cheaper lower caloric versions that are super hand-bite sizes of Durian moon-like cakes.
Can anyone describe how much ratio of cogs vs user price?
I ask my relative to stop giving us mooncakes long ago. Have not been buying or consuming any mooncakes for years.
How did u bring this up conversation without being possibly prejudiced or judged..? I mentioned this to my mum it's a wasteful habit. We gave many and receive many but unable to finish them.
I actually make it myself. the thing that makes it’s expensive as a homemade cook is the yoke , the nuts , the time consuming the craftsmanship ( wrapping it neatly is quite difficult). And even though all these i still it is super cheap. If you make it yourself. I make a lots of other desserts. Moon cake is just super cheap compared to other desserts.
Nothing can replace mooncake festival that's why🤤
It's simply a ripoff luxury product.
You can buy cheap mooncakes, but they won’t taste nearly as good as the expensive ones. Mei Xin and Wing Wah are the best, they make perfect gifts for relatives and friends this autumn festival! Pro tip: the BEST mooncakes are alway made in Hong Kong!
Interesting comment
2:37 I'm a Canadian so maybe I'm wrong but GST is a consumption tax which means it's only paid by the end consumer. If intermediary businesses pay gst, they are eligible to recoup it from the government. Thus, if it has gone up, it shouldn't actually increase the sticker price of the mooncake.
I never got the double yolk ones. They always taste dry and flaky.
buy from Malaysia - thanks to the exchange rate, its much "cheaper" there. i bought 4 mooncakes for RM108. taste better too
What brand?..It's usually four pieces in a box..Cheapest is $12..
Lavender Bakery
@@bstaznkid4lyfe392
Should just buy mooncakes that comes with a 100g gold bar set into the box if you really want to impress and have the mooncakes filled with gold flakes.
Cool, DIY Mooncake kits,!#
Same as Gucci or LV, the brand tax makes the item more expensive. Ppl will still buy branded items and complain about the price. Cheaper alternative just go JB buy, so many options and might be better. Singapore just can't compete. Same for CNY goodies, just too expensive here.
Mooncake is basically a rip off, a combination of high fat and sugar food with little techniques involved.
The manufacturer tells you the price for flour and lotus rise but doesn't tell you the net profit they make.
full of BS!! its a festive slaughter it is
Wait until after the festival then buy them for cheap. The same with christmas treats. There's no reason to not celebrate it a day or 2 later but at half the price.
now after festive also no more cheap, those unsold mooncakes of businsses they prefer give to some organizations than sell at half price
I nvr liked traditional mooncakes. Maybe i’ll buy one snowskin one to try this year 😂
i remember these being sold at Costco. I never cared about it before but now am curious to know how they taste. lol
Bought a tin of four. Not bad, not too sweet either!
Oh nice! You got it from Costco?@@nikolyevic
I’ve had them from Costco before and don’t care for them. They still have them the other day
I brought double egg yolks x4 mooncakes from Canada Costco is only $20!!!
Mooncakes are meant to be a high-priced gift. The over-the-top boxing presentation and the more expensive ingredients show how much you appreciate the person being gifted. BUT, no one eats the mooncake for eating sake. The actual mooncake is not really delicious. Personally, I put mooncakes on the bottom of my list for a dessert treat. The best desserts for eating are cookies, donuts, chocolate cakes, pies, ice cream, etc. No one is going to say…”wow, I really have a craving for a moon cake” 😂
I have not tried that many yet, but I had one type of mooncake that is usally filled with a sweet and sugary eggyolk in the middle its was food love at first bite and is now one of my favourites from then on ( but one is enough, they r so filling) 😅💙😶🪶🌶So they can taste good....
Speak for yourself! Feel free to gift all the mooncake you get to me.
Fragrance foodstuff aka the one selling bakkwa can sell theirs online for maximum a box for $40 depending on the flavors why can't the others too? In fact I got a box at $28.90 during time sales. To conclude, those price their mooncake at $60 and above are all earning crazy high profit margin.
I bought one box of low sugar version (lotus paste) in Canada this year, they are still too sweet. I usually like Chinese bakery because they use less sugar. I am glad my Chinese family broke the tradition of giving moon cake 10 years ago. It is waste of money. A box of moon cake was about $40 to $60 ten years ago. We would buy about 10 boxes every year to give to friends and family.
In our family we all agreed to gift bakery fresh treats instead of the unhealthy stale old and gouging moo cakes.
Actually I like mooncake but during festival I never buy any becos there's always that somebody that you know who gets loads of boxes as gifts from their business dealings and will be swimming in more mooncakes than they can eat every year so either they have to give away mooncakes that other people gave to them or they will have to throw away. 😁
Title should be: Mooncake sellers fleece naïve buyers.
It's like landing on the "Moon", dam expensive indeed.
The Mooncake trade has gone to a new marketing level now. It is priced very high, in coupon terms, to exchange for a box of 4 mooncakes. Then the coupons are sold to people at a steep discount to impress as gifts. The merchants know that not every coupon will be redeemed, so they would still make money even by selling the coupons at a steep discount. Meanwhile, those giving away the seemingly expensive coupons have "face," and those receiving the coupons are happy because they have obtained a high-priced item for free. It's a silly game, but profitable for many parties. So, it's way more than just inflation.
You can say the price is over the moon
pure stupidity to pay so much refined sugars 😅
Its part of culture and tradition, if it's not your thing, just respect other people's culture and let them be
Mooncake filling is only nice with lard, and these days (with healthier options) most do not have enough lard to get a very smooth lotus paste texture. Too dry and so I didn’t find anything I liked this year. Too bad then.
Simply, we pay so much because sellers know we can and are willing to pay so much because it is a traditional delicacy with important cultural values.
Exactly. With a kind of mindset like that, who wouldn't want to capitalise?
If you can't afford to go to the moon, you can't afford to buy moon cakes.
you had oven. why did you not bake bread, or sourdough loaf?
Buy from Hong Kong la! Decent and cheap like SGD50-60 a tin of 4.
Buy only on the last day ! Buy 1 get 1 free 😂
More highway robbery festival
People nowadays don’t even know how to differentiate bean paste and lotus paste. 😅
Same in Thailand, it is too expensive when we consider the ingredients to make moon cake. I always brought 4 pcs for my family. New generation doesn't like these desert only older people.
😂interesting
Eating one while watching this
If I wanted to buy moon cakes to enjoy I would wait until the day it is over and the prices are guaranteed to tank. If I were to spend over $90 for a box of 4 mooncakes my parents would think I am nuts.
Only SG price siao.....just go JB buy double yolk 4 piece RM60
skip the packaging and just buy from good bakeries if you just want to eat it yourself
I tried TWG mooncake, it's good but it's more expensive than Starbucks mooncake. I don't think it's worth it
I don't understand.
Flour was 1.20 and now it's 1.90 a pack.
How much flour do they use in those 90 dollar moon cakes? 50?
Buy it to impress the in-law or future in-law. lol
He said all ingredient prices shot up n singpore imports most of them. I thought also that is why country like Singpore has strong currency against many of these countries where it imported ingredients from 🤔
i dont, i buy them after lunar new year when they are half or a quarter of the price. they are delicious
mooncakes my fav desserts
even before covid, the price is already outrageous
It's impossible that the price reflects the cost considering they're still around $4 each in my country.
… i can get a single yolk lotus mooncake for ~RM15 (USD$3.20/SGD$4.30) a piece at my local bakery chain. N if i buy 2 pieces, they even put them in a nice gift box. Already have 3 of those boxes at home.
Im curious what these SGD$24 mooncake apiece taste like😅
I forgot about the festival's existence this year
Used to love it but stop eating it for years already lol
I buy cheap mooncakes at supermarket nearby my house. Only 1 dollar i get 1 packet with 6 small pieces mooncakes. The taste is similar with expensive mooncake
Interesting: I had a boyfriend from Taiwan whose father's bakery was one of only a few who was allowed to produce moon cakes. Evidently, he was a rich baker because of the moon cake trade. I never queried him beyond that.
Never ever buy mooncake in SG, one box of snowskin with yolk can cost u more than 60 sgd. Instead go JB, same stuff cost only RM93, quite similar to last year price, which is not even 30 sgd.
We can only blame ourselve for the high price because if we keep buying, they will keep increasing price since there is demand.
Yes the smart ones will venture to JB to get them…the prices in SG are what I called daylight robbery! Ridiculous really!
The time 😊and effort to go to the causeway, it’s worth it? Aren’t you supposed to buy local, to support local businesses?
mooncake dont even taste good, i take egg tart over it.. There i said it
They used to taste really good. I used to look forward to mid-autumn every year when I get to eat mooncakes. Over the years, I don't know what happened. Price went way up, and quality went way down.
😂😂😂😂😂😂😂
Vote wisely
Price of Moon Cake is set for biz gift exchange and 5 stars hotel price even 2-3x more
I started making my own mooncakes cuz tooo expensive liao. And snowskin mooncake quite easy to make.
Ya lor. So easy to make yet they dare to sell so expensive just because of the boxes.