COGS up 1.7% since April, raise prices?
It ain't waste either.
I'm always way late to raise prices.
For example I made it through 2021 just eating the inflation so as to not impact my customers. I made 50% less that year than 2019 and nobody batted an eye when I finally raised prices. I also did not gain wild customer loyalty by maintaining my prices as long as I did. So I swore to not fall behind again.
Well maybe I already have fallen behind again? Has anyone else had to raise prices this summer?
I know that everyone is struggling more than ever, but 1.7% is a quarter of my total margin.