What are the circumstances for you to increase the selling prices?

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Stardom22

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• Jun 9, 2024

• #1

For me when the inflation rates rise up and the cost for running of the business being skyrocketing, l would increase the prices promptly.

 

Starmix

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• Jun 9, 2024

• #2

That happens to my milk tea business. The price increases too. The milk tea ingredients are getting high.

 

Shavkat

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• Jun 10, 2024

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It will increase my products' prices based on the current economy of my country. I think most businessmen do this.

 

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Fidelia

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• Jun 10, 2024

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I don't inflate the selling prices if my products except the cost of production increases. I have to be profitable, and I must take up the prices accordingly.

 

cherry123

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Shavkat said:

It will increase my products' prices based on the current economy of my country. I think most businessmen do this.

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Yes, the cost and expenses of a business needs to be considered which can directly affects the selling price of a products

 

nomad

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• Jun 15, 2024

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When the price of raw materials increases, product cost increases, therefore, I also increase selling price

 

Niyi Briggs

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• Thursday at 1:43 PM

• #7

Also, when the demand for the products become inelastic, you can afford to increase prices without facing any challenges.