High Transaction Cost During Pandemic
The various ways the pandemic is making things more expensive for everybody.
There's many ways transaction cost goes up during pandemic. Some are obvious while others are sneakily devastating.
- The cost of mask every time you go out
- Shipping cost of item you could normally buy in store nearby but now need to bought online from afar
- Having to pay shipping multiple times for multiple items because you can't get it all in one trip to the shopping mall
- Handling cost of fragile items made certain things more expensive. More protective packaging are needed or need to be delivered by expensive despatch service
- Worse, the fragile item you ordered is broken and you have to fork out more money to buy again
- In a similar vein, the cost of ordering the wrong item and you can't return it
- Time cost of waiting for the item to arrive
- Getting subpar product delivered instead of picking it up in store - this is especially true for highly perishable goods like seafood, vegetables and fruits
- Being flagged as casual or close contact due to an outbreak at the store you visited - this can cost anything from stress, swab test, or missed income due to quarantine
- Your favorite food costs more due to food delivery platform comission fee
- You spend more because using cashless payment method intead of cold hard cash