Stuff You Should Know Short Stuff: The Casket Racket
Jan 5, 2022
Dive into the intriguing world of casket pricing, where a shocking 250% price increase over 30 years raises eyebrows. Explore how just two manufacturers dominate the market, manipulating costs for funeral homes and consumers alike. Discover the challenges families face when selecting a casket, often muddled by emotions and differing opinions. The discussion also sheds light on emerging trends like cremation and the funeral rule, advocating for greater consumer awareness and transparency in a traditionally opaque industry.
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The Casket Racket
- Casket prices have increased by 250% over the last 30 years, exceeding inflation.
- Two manufacturers, Batesville and Matthews, control 82% of the market and sell only to funeral homes, contributing to the markup.
Shop Around for Caskets
- Most people don't shop around for funeral homes or caskets due to grief and familiarity.
- Funeral directors exploit this, pricing accordingly for a captive customer.
Buy Caskets Online
- Online casket retailers offer cheaper alternatives, sometimes saving $700-$1500.
- They provide faster delivery, challenging the traditional funeral home model.