Very common. I think of my boss who makes at least 40k more than I do, which I know because education salaries are very transparent. This person told me wow it’s nice you’re doing Disney again, we’re still paying off our trip from last year. So I’m sure there are very irresponsible people who will keep tacking on, but if you’re still paying on a trip from a year ago, you might avoid booking another trip.
It was a blip on News…if such a thing exists…on Thursday
How much does their intransigence on cutting rack rates on tickets/rooms and instead induce through discounts start to bite them? Mind you, all that happens before you start piling on the seemingly necessary add ons (G+, ILL)
Explains why I just cancelled HBO max. I agree next year may be a year for good discounts.
I’m no economist, but apparently the money supply is decreasing at the fastest pass ever. That’s not a good sign for the economy or Disney I would think.
At some point, everyone can’t spend more because things cost more
Very true.
Well they increased the money supply at the fastest pace ever so it balances? Yeah, the Fed is reducing it's balance sheet as fast as they can
It’s pretty fascinating…they’re trying to Eliminate what we know as a “traditional recession” by spreading all the economic weakness out over everyone and everything
Certainly a time for the textbooks. They are taking a cue from the past recessions and brewing a new/old response which against all odds seems to be working in the short term. The name Powell may go down in history with Keynes
When you do things too fast things break.
I’m sorry…you said Keynes but I bet you meant “the next Alan Keyes”?
You mean making the money printing machine go “bbbbbrrrrrrrr” has real life consequences?
I used to think for every person or family Disney prices out that there are folks coming to more than take their place.
And that's really the crux here.
What really happened…I believe…is somewhere in this blue ocean nonsense ten years ago (in burbank…conscious or not…) the decision was made to disregard the traditional pricing safeguards at parks.This puts WDW in a really tough spot. There's probably a microeconomics term for the cycle they're in, but I wasn't very good at microeconomics in college.
Basically, they've priced out all but higher income people who weren't upset at the prices continuing to rise as long as value increased as well. Value arguably did increase for many years, I'd argue until around the advent of FP+. Now, for several years the value of a WDW vacation has decreased, while prices have continued to rise. So even higher income people have a tougher time paying it, so they'll look for better value elsewhere, even if it costs them the same.
At some point, and maybe by now, WDW profits have to take a hit. Hopefully, Disney will realize they need to work on WDW's value as a vacation again, while simultaneously keeping prices under control, all while inflation continues to impact the economy until an inevitable recession. They put themselves in this spot, but I do not envy their position.
For example, adding Skyliner to the EPCOT/DHS area (IMO) greatly increased the value of a WDW vacation if staying in one of the affected resorts (the exception to the rule), but I don't know that it did anything to increase park traffic, although it might have solidified some bookings at Pop Century/AoA. They need to do more things like this that add value to the property and to people's WDW vacations, but in this economy I don't know that they'll get a return on investment for many years to come. If they don't do more things like this, though, I think the bleeding continues.
Huge dilemma for management, how can the pricing model be reconfigured down to reasonable levels where it's no longer akin to price gouging and fleecing the guests? Hard to walk it back after going in this deep.
Once a consumer product gets labeled a ripoff…it’s essentially done.
