- Banned
- #61
How many products do you have?Control is important. One of my smaller brand websites has had a 24% price increase due to the current exchange rate. My supplier put my costs up significantly, now I have to raise all my prices and risk losing sales, but more importantly I can no longer offer my trade account margin and a lot of my customers are trade. Not able to gain product direct, lesson learnt. Unsure how to make the most of this situation now. I can only think of adding more content, more value and more accessories. It's unfortunate, but my other niche site far outperforms this so it's not going to ruin me.
Start with discounts:
$59 now ($71 full price).
I would attempt (it's thin ice) to increase the price for fewer products + additional % to slightly cover the lack of margins on other products. Then increase the price for what's left.
I would also offer specials and introduce new products to provide the alternative.
There are countless ways to smoothly increase prices without loosing customers.
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