Retail Price. The amount that you pay for a pair of shoes when you buy them from the retailer is referred to as the Retail Price.
What is a retail price?
This entry was posted in Accounting Dictionary on.What is meant by the term ″retail price″?The cost of an item as it is often paid for at retail establishments is referred to as the retail price.It is a word given to the price that end customers pay at retail outlets to separate it from intermediate costs paid upstream in the supply chain.
- This price is known as the ″final consumer price.″
What is the difference between manufacturer and retail price?
- The price paid at the retailer is distinct from the price paid by the producer and the price paid by the distributor.
- These are prices that are established from one seller to another along the supply chain.
- In free and competitive marketplaces, the ultimate seller or retailer decides what the retail price will be by taking into account not just the expenses but also the circumstances of supply and demand.
What was the retail price of the imported shoes?
- After conducting research on the market, the imported good determined that a retail price of US$30 was appropriate.
- After doing some calculations, the Marketing Manager came to the conclusion that the new brand should be sold at a price of US$34.
- This was due to the fact that the shoes were highly appealing to the target demographic.
- However, many buyers felt that the pricing was excessively expensive because other retail establishments were selling comparable models for about $29 and $31 USD.
Who sets the retail price in a competitive market?
- In free and competitive marketplaces, the ultimate seller or retailer decides what the retail price will be by taking into account not just the expenses but also the circumstances of supply and demand.
- When determining the pricing, the retailer will want to achieve a satisfactory profit margin while at the same time presenting a price that is competitively appealing in relation to that of other retailers.