Input prices are rising. Here are strategies you can use to avoid raising prices for your customers.
From lumber to wages to transportation costs, input prices have risen in recent months. To avoid simply passing the bill on to your customers, it’s in your best interest to adopt different strategies to compensate for these increases as much as possible so you can continue to set yourself apart.
But before implementing strategies to deal with rising prices, it’s important to understand the causes and whether they are likely to persist.
Pierre Cléroux, Vice President, Research and Chief Economist at BDC and Jacques Légaré, Director of Business Strategy at BDC Advisory Services, share their advice.
Read the full article with advice below: