There’s little question that inflation has been this year’s dominant economic story, impacting consumers and business owners alike. Stemming from the shockwaves of the pandemic and its attendant supply chain disruptions, inflation continues to be a real burden to those who work in the trade services. In particular, many business owners wonder: How should pricing be adjusted to reflect these broader macroeconomic trends?
Here are a few guidelines to ensure reasonable and effective pricing in this current inflationary environment.
Adjust discounting and promotions
During inflation, price increases are simply a given. However, the companies that routinely address total profitability are better positioned to
