In Supermarket Together, pricing your products right is key to attracting customers and growing your business. Here’s how to find the sweet spot:
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Know your costs
Before setting prices, understand how much you paid for each product. This is your baseline.
Aim for a 1.5x to 2x markup
To make a profit, price products 50% to 100% higher than what you paid. For example, if an item cost $10, sell it for $15 to $20.
Monitor customer reactions
If customers complain, your prices may be too high. Lower them slightly, then gradually increase until you hit the right balance.
Prioritize profitability
Resist the urge to slash prices just to please customers. Selling at a loss will hurt your business in the long run.
By following these guidelines, you’ll be well on your way to running a successful supermarket. Remember, finding the optimal price range may take some trial and error, but it’s worth the effort.