Calculating retail prices is not easy. There are multiple variables to factor in and several calculation methods. However, who does not want to reduce uncertainty when choosing the right price for their products? TradeGecko is here to help.
At TradeGecko, we always recommend the absorption pricing method. This approach factors in all the costs associated with your product's selling price, including the proportion of your fixed costs and your profit margin.
This is a simple 3 step method to get to your RRP (Recommended Retail Price)