EMBiz: Why Everyone Is Increasing Their Pricing

Laurel Mintz

Why Everyone is Increasing Their Pricing

Supporting Our Communities and Vendors

Hi everyone, Laurel Mintz here with Elevate My Brand. I was getting my hair cut yesterday, I hope you like it, and I was sitting there and there was a notice in front of me that said, prices will be increasing January 1. And I thought to myself, well, that's a bummer. And then I rethought the conversation and I really took a step back and thought about the fact that we've actually increased our prices slightly and that almost all of our vendors, almost everything in our business life and in our personal life, like building materials, contractors, hairdressers, nail salons, everything in our universe has gone up in price. And this is a result of what's happened since the Pandemic. Even though we're still in it, we are certainly still feeling the repercussions of supply chain issues, of people having to take out loans and having a lot of debt on their books. Things are just costing more these days.

So I wanted to just quickly say that this is something that you will be probably seeing across the board with your vendors, whether it's service or product, and that it should be something that you take in stride. Take it with a grain of salt. It's not because people are trying to gouge you, it's because the cost of goods, the cost of service, the cost of employment, the cost of taxes, everything is increasing right now. And so we have to kind of solve for that, and from a consumer perspective, sometimes doesn't feel so good, but it is really important because you have to be able to provide a standard of living and provide for your family, your teams, all of that. So I would argue that it's actually a really positive thing that we are able to support our community, our vendors, our teams, our families with these price increases, even though they might not feel so good, they're really, really important. So make sure you smile, and I'll always tip extra.