PriceSmart: Less forex leads to changes in imported goods

PriceSmart management announced to its shoppers on Thursday that its regular sourcing and merchandising of imported goods may be affected.

In a release shared on its Facebook page, PriceSmart said the adjustment was due to foreign currency becoming less available.

“We want to express our commitment on maintaining our business model of providing the highest quality merchandise and service at the lowest cost possible as we work out solutions that can sustain or substitute our imported merchandise offering.”

In an immediate response on the Facebook page, angry customers complained about prices, and expressed concern that the change in sourcing goods could lead to more price hikes.

“Apparently it is all your goods affected because the prices have raised on everything. Poor excuse to raise prices,” commented one customer.

“The prices are not the lowest. Some prices went up,” said another. “I paid $99 for a Downy Fresh Protect last month now it is $108.95. If people are paying for a membership card and the prices keep going up what sense it makes to shop?”

“Right now I’m forgetting about them. I’m going Persad D Food King and the other groceries with sale to get my money’s worth,” said a third.