In the grand scheme of things, the customer may have slightly more pull than the cashier ringing up their order, but it's the CEO and the board of directors that control the narrative. That's why we're getting bigger and less fuel efficient vehicles, bigger and more fattening meal portions in restaurants, and bigger less affordable houses.

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It is the full quote and OP is not misunderstanding its meaning.

https://en.wikipedia.org/wiki/The_customer_is_always_right

You’re thinking of a later retort that was added to try to change the quote.

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