The flip side of market rate is what employers can afford to pay while staying solvent. We are in the midst of a huge technology disruption affecting all aspects of retail and manufacturing.
What happens to the mom and pop coffee shop or the grocery store that charges more than Amazon Fresh?
Enployment has a bid and offer, both sides are reluctant to cross without desperation.
>What happens to the mom and pop coffee shop or the grocery store that charges more than Amazon Fresh?
Coffee shops aren't known for being places to get cheap groceries; they're places where you get fancy drinks and/or snacks and hang out and talk to your friends or use the WiFi. In other words, coffee shops are selling an experience, not a fungible good.
If a coffee shop goes out of business because of an online seller, they must have been offering a really lousy experience.
What happens to the mom and pop coffee shop or the grocery store that charges more than Amazon Fresh?
Enployment has a bid and offer, both sides are reluctant to cross without desperation.