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#21
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In article ,
Hans-Georg Michna wrote: On Sun, 15 Aug 2004 20:12:11 -0700, "None" wrote: This does not "feel" true. I never felt like anyone was anything but being honorable to me. Even if I left the vendor and sat down nearby they would locate me and deliver the change. Oh, sure. If you insist and wait for the charge, you will get it. But some customers, particularly tourists, give in and renounce the change, and that's what the trader is hoping for. If it is dishonorable, it must at least be deniable. There are some fine lines in the behavioral code that aren't usually crossed. Hans-Georg From experience in Morocco I think the situation is physically created by the fact that there isn't a large amount of small change minted in the first place because its expensive to produce coins and for some countries coin may be imported from foreign mints. As many people are poor they tend to save change and they don't tend to have bank accounts therefore the change gets hidden away as savings, further reducing the amount in circulation. This also accounts for the fact that many countries aren't keen on you taking currency out of the country. -- besters.. Ned === |
#22
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Hans-Georg,
I absolutely aggree with you about tourist oriented shops selling curios etc. Their markups are enormous. I was referring to shops that deal in local trade, such as those that you find in trading posts along major routes, and in small villages and towns etc. The places where tourists seldom visit... Your last paragraph about the reasons for the tiny shop phenomenon are spot-on. Regards, Marc On Mon, 16 Aug 2004 09:58:37 +0200, Hans-Georg Michna wrote: Marc, I don't generally believe these low markup percentages. In many cases the profit is low because of low trading volume. There are often very many, very small traders, all competing for the same business. In many businesses, like tourist souvenirs, the markups are very high, several hundred percent, if not several thousand, but the volume is extremely low. Reminds me of the peanuts cartoon where Charlie Brown opens a little booth with just one tin of Coca Cola with a $100 price sign. So Lucy passes by and says, Charlie, you're crazy. Nobody's going to buy a Coca Cola at that price. Answers Charlie Brown, "But think of it, I only need to sell one to be rich!" Reasons for this tiny shop phenomenon are several, one being bad economic policy (no land rights, extortional taxes, etc.), others being lack of education (can't calculate the business properly) that makes it very difficult for small traders to expand their business. So most of them can never run an efficient business, like a real, normal-sized shop. Hans-Georg |
#23
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Hans-Georg,
I absolutely aggree with you about tourist oriented shops selling curios etc. Their markups are enormous. I was referring to shops that deal in local trade, such as those that you find in trading posts along major routes, and in small villages and towns etc. The places where tourists seldom visit... Your last paragraph about the reasons for the tiny shop phenomenon are spot-on. Regards, Marc On Mon, 16 Aug 2004 09:58:37 +0200, Hans-Georg Michna wrote: Marc, I don't generally believe these low markup percentages. In many cases the profit is low because of low trading volume. There are often very many, very small traders, all competing for the same business. In many businesses, like tourist souvenirs, the markups are very high, several hundred percent, if not several thousand, but the volume is extremely low. Reminds me of the peanuts cartoon where Charlie Brown opens a little booth with just one tin of Coca Cola with a $100 price sign. So Lucy passes by and says, Charlie, you're crazy. Nobody's going to buy a Coca Cola at that price. Answers Charlie Brown, "But think of it, I only need to sell one to be rich!" Reasons for this tiny shop phenomenon are several, one being bad economic policy (no land rights, extortional taxes, etc.), others being lack of education (can't calculate the business properly) that makes it very difficult for small traders to expand their business. So most of them can never run an efficient business, like a real, normal-sized shop. Hans-Georg |
#24
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Hans-Georg,
I absolutely aggree with you about tourist oriented shops selling curios etc. Their markups are enormous. I was referring to shops that deal in local trade, such as those that you find in trading posts along major routes, and in small villages and towns etc. The places where tourists seldom visit... Your last paragraph about the reasons for the tiny shop phenomenon are spot-on. Regards, Marc On Mon, 16 Aug 2004 09:58:37 +0200, Hans-Georg Michna wrote: Marc, I don't generally believe these low markup percentages. In many cases the profit is low because of low trading volume. There are often very many, very small traders, all competing for the same business. In many businesses, like tourist souvenirs, the markups are very high, several hundred percent, if not several thousand, but the volume is extremely low. Reminds me of the peanuts cartoon where Charlie Brown opens a little booth with just one tin of Coca Cola with a $100 price sign. So Lucy passes by and says, Charlie, you're crazy. Nobody's going to buy a Coca Cola at that price. Answers Charlie Brown, "But think of it, I only need to sell one to be rich!" Reasons for this tiny shop phenomenon are several, one being bad economic policy (no land rights, extortional taxes, etc.), others being lack of education (can't calculate the business properly) that makes it very difficult for small traders to expand their business. So most of them can never run an efficient business, like a real, normal-sized shop. Hans-Georg |
#25
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On Mon, 16 Aug 2004 10:49:11 +0100,
wrote: From experience in Morocco I think the situation is physically created by the fact that there isn't a large amount of small change minted in the first place because its expensive to produce coins and for some countries coin may be imported from foreign mints. As many people are poor they tend to save change and they don't tend to have bank accounts therefore the change gets hidden away as savings, further reducing the amount in circulation. This also accounts for the fact that many countries aren't keen on you taking currency out of the country. Ned, this is not so in Kenya and probably not in Tanzania either. The central banks usually know very well how much cash to print and mint. There is certainly no lack of coins in Kenya, for which I can vouch. Also, Kenya has long abandoned controlling the exchange rate. They are now using a floating rate and actually appreciate if you take their money with you and keep it as a souvenir, which is pure income for the government, because they can reprint it. Again I don't have the details for Tanzania. Hans-Georg -- No mail, please. |
#26
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So far there are many hypotheses, but no evidence.
Is there not anyone living in Africa, who personally knows a vendor or two, who can find out? The reason I persist is the answer(s) will be in a travelogue that may be published. "none" wrote in message ... I was recently visiting Tanzania and encountered a mystery for which I can find no answer. It is about getting change for small purchases from street vendors. It was especially noticable when buying food from vendors in Zanzibar. Here is the typical scenario: I am in line behind several people buying seafood barbeque at a very busy waterfront market. This is the place where hundreds of tourists find wonderful food in Stonetown, Zanzibar. The vendor is doing a very brisk business. I order perhaps 1,500 shillings worth of something, get it, and here is the mystery - he never has change. I know he has been stuffing money hand over fist under the table cloth or into his pockets. He does not usually even need to look in these places, but knows he does not have change. I get my food and stand around waiting while the vendor disappears off into the darkness and returns in a minute or two with change. I was never cheated, so short or no change was not what was going on. I was never able to figure out where the vendor went or who he met. This happened over and over, not only on the waterfront, but at other vendors as well. In Arusha I met a German expat whom I asked about this. He said he had been in Tanzania for 3 years and had still not figured it out. Is it some kind of underground banking going on? Is there a money holder off site for robbery protection? Can anyone explain this?????? |
#27
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So far there are many hypotheses, but no evidence.
Is there not anyone living in Africa, who personally knows a vendor or two, who can find out? The reason I persist is the answer(s) will be in a travelogue that may be published. "none" wrote in message ... I was recently visiting Tanzania and encountered a mystery for which I can find no answer. It is about getting change for small purchases from street vendors. It was especially noticable when buying food from vendors in Zanzibar. Here is the typical scenario: I am in line behind several people buying seafood barbeque at a very busy waterfront market. This is the place where hundreds of tourists find wonderful food in Stonetown, Zanzibar. The vendor is doing a very brisk business. I order perhaps 1,500 shillings worth of something, get it, and here is the mystery - he never has change. I know he has been stuffing money hand over fist under the table cloth or into his pockets. He does not usually even need to look in these places, but knows he does not have change. I get my food and stand around waiting while the vendor disappears off into the darkness and returns in a minute or two with change. I was never cheated, so short or no change was not what was going on. I was never able to figure out where the vendor went or who he met. This happened over and over, not only on the waterfront, but at other vendors as well. In Arusha I met a German expat whom I asked about this. He said he had been in Tanzania for 3 years and had still not figured it out. Is it some kind of underground banking going on? Is there a money holder off site for robbery protection? Can anyone explain this?????? |
#28
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On Mon, 16 Aug 2004 06:45:28 -0700, "none" wrote:
So far there are many hypotheses, but no evidence. Is there not anyone living in Africa, who personally knows a vendor or two, who can find out? The reason I persist is the answer(s) will be in a travelogue that may be published. If you ask vendors, you will be told stories, but not necessarily the truth. Hans-Georg -- No mail, please. |
#29
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On Mon, 16 Aug 2004 06:45:28 -0700, "none" wrote:
So far there are many hypotheses, but no evidence. Is there not anyone living in Africa, who personally knows a vendor or two, who can find out? The reason I persist is the answer(s) will be in a travelogue that may be published. If you ask vendors, you will be told stories, but not necessarily the truth. Hans-Georg -- No mail, please. |
#30
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In message , none
writes So far there are many hypotheses, but no evidence. Is there not anyone living in Africa, who personally knows a vendor or two, who can find out? The reason I persist is the answer(s) will be in a travelogue that may be published. "none" wrote in message ... I was recently visiting Tanzania and encountered a mystery for which I can find no answer. It is about getting change for small purchases from street vendors. It was especially noticable when buying food from vendors in Zanzibar. Here is the typical scenario: I am in line behind several people buying seafood barbeque at a very busy waterfront market. This is the place where hundreds of tourists find wonderful food in Stonetown, Zanzibar. The vendor is doing a very brisk business. I order perhaps 1,500 shillings worth of something, get it, and here is the mystery - he never has change. I know he has been stuffing money hand over fist under the table cloth or into his pockets. He does not usually even need to look in these places, but knows he does not have change. I get my food and stand around waiting while the vendor disappears off into the darkness and returns in a minute or two with change. I was never cheated, so short or no change was not what was going on. I was never able to figure out where the vendor went or who he met. This happened over and over, not only on the waterfront, but at other vendors as well. In Arusha I met a German expat whom I asked about this. He said he had been in Tanzania for 3 years and had still not figured it out. Is it some kind of underground banking going on? Is there a money holder off site for robbery protection? Can anyone explain this?????? I don`t think that you will find anyone who can explain it, it is quite simply part of the African way of life! There is no grand mystery, it`s part of what happens in the daily life amongst small traders and in village markets. Pat -- Pat Anderson |
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