A shop near you changed a price? How to think about yours

When a place near you changes a price, it is easy to panic. Do not change yours in a hurry. Look at your own costs and what your customers pay for. You decide your prices. If you want, run a short offer of your own instead of a lasting cut.

Ramesh runs a juice and shake shop near a college. A shop nearby cut the price of its mango shake by ₹10.

Ramesh's costs had gone up, not down. A lasting cut would hurt him.

He kept his prices. He made a one week student offer on his own mango shake, with his real price and dates. He told his regulars on WhatsApp.

This is an example, with a made up name and business.

1. Do not react the same day. Watch for a week. Some price changes are short.
2. Check your own costs. Look at your bills for the things you buy. Our guide on costs going up helps.
3. Know your margin. If a lower price means a loss, do not do it.
4. Think about value. Maybe your portion, quality or service is better. Say that clearly.
5. Show your prices. Customers compare. Put yours on your listing. See our prices guide.
6. If you want, run a short offer. One item, a clear price, clear dates. It is easier to end than a price cut.
7. Tell your own customers. Post it on your listing and send it to people who already message you.

Rules to keep

• Never post a price you will not honour.
• Never copy another shop's price list or photos.
• Never name or criticise the other shop.

Pulse says a price changed. Does it say what I should charge?

No. Pulse does not know your prices. It shows what changed nearby, not what you should do.

My prices are higher. Will I lose customers?

Not always. Many customers pay more for quality, trust or service.

Will an offer win customers back?

Nobody can promise that. It gives customers a reason to choose you.