Title - Story to demonstrate benefits of increasing price Tags - nllstory priceincrease
- Chain of convenience groceries and gas stations
- Experimented with rising prices of 50% of items in convenience stores by an average of 20% per item
- As a convenience it has a premium value to the customer - it’s not going to be thought of as a commodity.
- Made $900,000 profit extra in the next 12 months
- Sales didn’t drop; they expanded
- Customers cheerfully paid 20% more for everything for the convenience
- In convenience markets, price has nothing to do with it - it’s about convenience, protection, etc.
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