In this week's "Just the Tip" episode, Jess discusses why you should consider raising your prices. Whether it's a 5% increase, a 10% increase or more, there are two big reasons why it's a good idea to evaluate your pricing: 1) Inflation is real, and everyone's expenses are up, including yours; 2) Perceived value, where consumers may choose NOT to buy from you if they think your price is too cheap. Don't turn away potential buyers by making them suspicious that something is wrong with your product! Jess looks briefly at the psychology of value perception, and how you can use this concept to price your inventory so that the benefits of your product are clear, and you maintain your profit.
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