Inflation is pressing down hard on consumer packaged goods (CPG) companies and their customers. If you manage sales for a CPG company, that pain is especially harsh. Rising costs are forcing your company to hike prices but striking that optimal price point—one that secures long-term profit without turning away customers—may feel impossible.
However, there are nuances to setting pricing during inflationary environments that not all CPG companies know about. In this article, we lay out the proven ways to form a successful CPG pricing strategy during inflation.
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