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Retailers like Trader Joe's are adjusting their iconic price points, such as selling bananas for 23 cents each, a 20% increase from their previous price held for over 20 years.
This change reflects rising costs in labor, transport, and commodities. Some businesses are scrapping traditional price points like $1 products at dollar stores and dollar slices at NY pizzerias.
Despite slight variations in banana prices over the past two years, retailers continue to use bananas as a loss leader product to attract customers and drive sales of other items.
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