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by chrisseaton 2104 days ago
> All employees, we were very puzzled by why Pret is so popular and why are they willing to pay so much for the food.

What's was puzzling about it? They're reasonably nice and fresh sandwiches in a nice room for not a lot of money. And as you knew yourself it seems clean too.

3 comments

Now that I’m a senior software developer, I earn enough that I don’t need to care how much food like this costs.

When I was a student, during term time (rather than the summer holidays when I had a job and lived with my parents), I made a game out of spending as little as possible on food. My record was 50p per day sustained over an entire term in 2004 (adjusted for inflation, that’s about £1 per day today).

Accounting for disposable income rather than gross income, being surprised that students find £4 sandwiches expensive is like being supposed that someone on €60k doesn’t eat every lunch in €100-a-head restaurants. (Those sorts of restaurants are still “fancy special occasions only” for me).

But presumably these people are aware that there are people who aren't living on a pound a day. They can't be genuinely surprised that most people out there can afford a couple of pounds for lunch? They'd have to be ignorant of the basic economic state of the nation to be surprised by this.
Anchoring bias is a powerful thing. As far as I can tell, most people think of themselves (in the System 1 sense) as representative of normal, no matter how rich or poor they are.
I don't know: as a reasonably well paid software developer I still find the amount people are prepared to pay for lunch surprising. As the article mentions, once you buy coffee+sandwich+pastry+fruit you can easily be over £10, which is something like the price of a new Macbook every year?
Well my rationale is a little different. I tend to buy lunch every day because I like fresh/hot food, I like variety and I like putting money into the local economy (many lower income folks depend on their food service salaries). And I enjoy doing other things with my leisure time than prepping meals.

Nothing wrong with prepping food on the weekends — many find it therapeutic while others do it out of financial need or for dietary reasons - but I personally wouldn’t do it to save a few bucks. I was a poor student for many years, and I’ve had to do it out of need, but I’m glad to be able to live differently now.

What is the alternative? What is the opportunity cost of doing so?

I'd imagine enough people going there earn enough such that even the price of a new Macbook is not even a thing.

What good is another macbook if you already have one?

I know what good a meal is if I already had one.

The sandwiches are twice the price of a supermarket sandwich, and for many (especially students working at Pret) the idea of buying lunch out rather than making it at home and bringing it in may be a luxury.

If you're on £16k a year, spending £1000 for a sandwich every day for lunch is a lot (£4 sandwich * 250 working days).

Thing is, for most people living in a large city and on a tight budget, it's not the cost of the ingredients that matters but the facilities to prepare them.

I once worked at a large web company located in the center of Paris and that had a free use kitchen. It took me less time (<1h) to go shopping and cook for a few colleagues than it would have for us to go to a restaurant, and cost the same as buying supermarket sandwiches.

Sure, but most people have food prep facilities at home, particularly for those who can't afford to eat out as much, so bringing in food in a lunch box is accessible to most.
> not a lot of money

This is the part that's puzzling to people working minimum wage. Their marginal utility of money is much higher than yours.