Strategy for Price Increases in 2022
How are you going about price increases for 2022 with the massive spikes in material costs?
We're hearing that all materials related to the Green Industry are facing massive shortages and freight challenges from all over the country. The cost of phosphate, potassium, and insecticides is seeing 25% - 80% price increases. Equipment and even the packaging and shipping containers themselves face a 67% to 200% price increase.
The question becomes - how are you rolling that increase to your customers?
Are you doing a flat percentage increase across the board?
Are you telling clients that there will be a mid-season price increase?
What about revisiting the price chart quarterly instead of annually?
So - how are you handling this challenge?