Retail Pricing

Retail pricing is the final selling price set by a retailer for a product or service. It is determined by considering costs (like manufacturing and overhead), desired profit margins, market demand, competitor prices, and customer perception of value. The aim is to find a price that covers costs and generates profit while remaining attractive to consumers. Effective retail pricing balances these factors to maximize sales and profitability without deterring potential buyers. Ultimately, it reflects both the company's financial goals and the perceived worth of the product to consumers.