How should merchants adjust pricing strategies to maintain profitability amid rising costs?
That’s great question @MLord 
Dealing with rising costs is tough, but smart pricing adjustments can keep you profitable! First, figure out your true breakeven point – that’s your pricing foundation. Instead of shocking customers with big price jumps, try small, gradual increases. Highlight why your product is worth it – its amazing quality, unique features, or the value it brings. Bundling products can boost perceived value, and think about adding premium options for customers willing to pay a bit more. Don’t forget to peek at your shipping costs! Ultimately, it’s about finding that sweet spot where you’re competitive and your business thrives!
The key is to strike a balance between maintaining competitive pricing and ensuring your profit margins remain healthy!
Do you need more information? 