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Price differentials of moon cakes before and after the Mid

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Price differentials of moon cakes
before and after the Mid-Autumn
Festival
4P
Kelly Kam (13)
Yoyo Ngai (24)
Latia Wan (31)
Fallon Wong (32)
Introduction
•
The Mid-Autumn Festival, also known as the Moon Festival, is a popular
harvest festival celebrated by Chinese people and Vietnamese people
dating back over 3,000 years to moon worship in China's Shang Dynasty.
The Mid-Autumn Festival is held when the moon is supposedly at its
fullest
and
roundest.
•
Accompanying the celebration, there are additional cultural or regional
customs, such as: The festival is for lunar worship and moon watching;
moon cakes are regarded as an indispensable delicacy on this occasion.
Moon cakes are offered between friends or on family gatherings while
celebrating the festival, one of the three most important Chinese festivals.
•
Our group will investigate on the price differentials of moon cakes,
during and after the Mid-Autumn Festival, as well as some of the special
offers given, of different companies selling moon cakes in Hong Kong.
•
Supporting Evidence
Price Differentials
During
Mid-Autumn festival
$150-$350
After
Mid-Autumn festival
$100-$200
(Maxim)
Mid-Autumn festival
$200-$480
Mid-Autumn festival
$150-$200
(Kee-Wah)
Mid-Autumn festival
$180-$250
Mid-Autumn festival
$100-$150
(Saint Honore Cake Shop)
Line of Argument
Own Standpoint
• Are moon cakes more expensive during MidAutumn Festival?
Demand and supply of moon cakes before
Mid-Autumn Festival
Price ($)
S
P2
P1
D1
Q1
Q2
Quantity /time
D2
Moon cakes are used to
celebrate the Mid-Autumn
festival. As the Mid-Autumn
festival is coming, the demand
for moon cakes increases. The
demand curve shifts rightward
from D1 to D2. Quantity
transacted increases from Q1
to Q2. The price of moon
cakes rises from P1 to P2.
Therefore, before the MidAutumn festival, the price of
moon cakes tends s to be
higher.
Are moon cakes cheaper after Mid-Autumn
Festival?
Demand and supply of moon cakes after
Mid-Autumn Festival
Price ($)
S
P1
P2
D2
Q2
Q1
D1
Quantity /time
After the Mid-Autumn festival,
demand for moon cakes drops.
As the festival has past, people
no longer need moon cakes.
Their demand for moon cakes
drops back to the original one.
Demand curve shifts leftward
from D1 to D2. Quantity
transacted decreases from Q1
to Q2. The price of moon cakes
falls from P1 to P2. Therefore,
the price of moon cakes tends
to be lower after the MidAutumn festival.
Interview
Summary of the Interview
• In this interview, it is mainly about the price of the moon cake
before and after the Mid-Autumn Festival. Moon cakes have
increased their prices compared to the previous few years.
And the most common reason that people may think leading
the price to increase is that the price of the sugar increases.
So the price will also increases as sugar increases. People may
also think that after the Mid-Autumn Festival, the price of the
moon cakes will decrease. But however moon cakes are just
usually sold before the Mid-Autumn Festival or during the
Mid-Autumn festival but not after it. Some small shops may
be exceptional cases if they do not sell all their moon cakes
out, they may still put them in their shops for people who
want to buy.
The price may also decrease as usually not much people
think that it is necessary to buy moon cakes after the
festival and small shops are usually not famous because
people usually buy moon cakes to eat or give them to
people as gifts. But after the festival it does not have
anymore special meanings. Even famous shops will sell
their moon cakes out during the Festival more expensive
because more people know them and more people will
choose them. So the small shops can also decrease their
prices in order to attract more customers to buy them.
Conclusion
• Finished looking deep into and weighing the comparison of the price
differentials of moon cakes during and after Mid-Autumn Festival in Hong
Kong, a conclusion can finally be conducted.
• During the Mid-Autumn Festival, prices are set at higher amount due to
the increasing demand for moon cakes. As the purchase of moon cakes is
the traditional celebration during Mid-Autumn Festival, it has become a
habit and necessity for Hong Kong people. Therefore, when it comes to
Mid-Autumn Festival, demand for moon cakes increases and prices are
adjusted
to
a
more
costly
level.
After the Mid-Autumn Festival, prices are set at a lower amount due to
the decreasing demand for moon cakes. As the Mid-Autumn Festival has
ended, Hong Kong people lose the meaning in purchasing moon cakes. As
a result, to attract more customers in buying the products, companies
lowered the price of moon cakes and clear the stocks as soon as possible.
• Our investigation conveys that moon cakes are more expensive during
Mid-Autumn Festival and the prices of them drops right after Mid-Autumn
Festival is ended.
Appendix
• http://en.wikipedia.org/wiki/Mid-Autumn_Festival
• http://en.wikipedia.org/wiki/Mooncake
http://www.maxims.com.hk/mooncake/chi/popup/pro
motion.html
• http://www.maxims.com.hk/mooncake/chi/popup/pro
motion.html
• http://www.kee-wah.com.hk/public/maf-price.pdf
• http://www.esdlife.com/newsletter/eshop/20070820a
/
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