The price of Maine lobster is great right now, lower than some chicken and beef.
So why are we still paying a fortune for that lobster roll? According to The Atlantic Wire, which tracks the prices, fresh lobster off the boat in Maine is selling for around $2.20 a pound. However, a lobster roll still costs anywhere from $15 to $30 - and a whole lobster is still usually listed as “Market Price” which is way above cost.
The reason most restaurants don’t drop the price on their lobster when it’s down isn’t just for profit, although that’s certainly part of it. The sale of lobster meals can actually take a dive if the price is low. That’s because we’ve come to expect it to be expensive. Like other high-ticket items such as diamonds or champagne, the average consumer assumes it’s sub-par if it's too much of a bargain.
The reason most restaurants don’t drop the price on their lobster when it’s down isn’t just for profit, although that’s certainly part of it. The sale of lobster meals can actually take a dive if the price is low. That’s because we’ve come to expect it to be expensive. Like other high-ticket items such as diamonds or champagne, the average consumer assumes it’s sub-par if it's too much of a bargain.
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