Show Notes
I recently stopped at a fuel station to fill up my car - something I don't do very often - and watched the bowser tick past $90, $100, $110, $120. I was genuinely waiting for fuel to come gushing out because surely it had to be broken. It wasn't broken. And that moment is exactly what this episode is about. Rising costs are hitting every part of retail and e-commerce - freight, fuel, wages, rent, suppliers. But what I'm seeing over and over again is store owners absorbing those costs out of their own pocket instead of adjusting their prices. In this episode, I'm getting into why that has to stop, and what you need to do before the damage becomes irreversible.
Key Topics Why every step of your supply chain is getting more expensive - and why economists are saying this will be felt for at least 12 to 18 months
The time lag effect: stock ordered today may not sell for months, but the costs are locked in now
The two pricing mistakes store owners make - and why the second one is the most dangerous
Why the customers you lose when you raise prices are rarely the ones worth keeping
How to raise prices with confidence, without apologising or over-explaining
Key Takeaways Rising costs must be reflected in your pricing
Review your margins now, not at the end of the financial year
Pricing decisions should be based on data, not fear
A profitable business is a better business - for you, your team and your customers
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