We all know that prices are going up (and have been for some time, now). But how do retailers actually decide when and by how much to raise prices? Is it just a simple matter of charging whatever people will pay? Or is it determined by their own costs? And have businesses been using pandemic-era supply chain problems as an excuse to raise prices now, or have they been forced to do so by factors beyond their control?
On this episode, Marty Weintraub, head of Deloitte's National Retail Consulting practice for Canada, joins us to break down how retailers are setting prices in the inflation era. We cover:
- The state of supply chains and how they're driving price.
- How consumer behaviour has changed after more than a year of inflation.
- Where consumer demand is falling, and where it's holding firm.
- How technology has changed the way companies set prices.
- Why many companies are raising prices rather than trying to steal market share.
- Whether "excuse-flation" is a real phenomenon.
- How the Canadian and US retail landscape differ right now.
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