Raising prices with retailers & distributors

[Renay]

We are having to raise our product prices due to ingredient and bottling price increases. We would appreciate your experience and information on the best way to communicate, implement, and announce this increase to our retailers and distributors. We appreciated the webinar on "Raising Prices in Uncertain Times". We are hoping for some details and/or feedback from the community. Thank you

[Sarah Masoni]

I recently helped a company word their price increase in the message line of their Quickbooks messaging that is sent out with their invoices.  I took the price  increase to the single serving so that it was more manageable, it ended up being a $0.02 increase per serving, and they didn't have a single push back.    Everyone is experiencing price increases because of availability issues, freight issues, shortages of employees and employee demands for higher pay.

 

I suggest full transparency, as you can bet the buyer doesn't want your brand and product line to go away.  How you send the message will be the important piece.

Edited February 25, 2022 by Sarah Masoni

[Patti Doyle]

Renay - I would also look at your distributor agreement to see if they have a communication policy regarding price changes, i.e. lead times, etc. 

[Renay]

On 2/25/2022 at 11:18 AM, Sarah Masoni said:

I recently helped a company word their price increase in the message line of their Quickbooks messaging that is sent out with their invoices.  I took the price  increase to the single serving so that it was more manageable, it ended up being a $0.02 increase per serving, and they didn't have a single push back.    Everyone is experiencing price increases because of availability issues, freight issues, shortages of employees and employee demands for higher pay.

 

I suggest full transparency, as you can bet the buyer doesn't want your brand and product line to go away.  How you send the message will be the important piece.

Sarah,

I appreciate you sharing your experience. The message line on Quickbooks is wonderful addition to our plans for communication and full transparency. 

Thank you,

Renay

[Renay]

8 minutes ago, Patti Doyle said:

Renay - I would also look at your distributor agreement to see if they have a communication policy regarding price changes, i.e. lead times, etc. 

Hi Patti,

Thank you, we have been looking into those and appreciate the suggestion. 

~Renay