Consumer Brands: Pricing Power Moves for Higher Profits
For many brands, important cost components will continue to erode the bottom line in 2023. With most brands taking some price increases in 2021-2022, signs of softening demand may be a looming reality for a variety of industries, brands, and sections of any given brand’s markets. What should companies do to combat these economic factors? In this article, the author looks in some detail at three pricing power moves that illustrate that consumer brands always have additional pricing power to find, nurture, and harvest.