When the naira moves, your supplier’s price moves. If your price stays the same, your profit quietly shrinks. If you change it every day, regular customers stop trusting it.
Here is a simple rule that keeps you safe without confusing anyone.
1. Know your cost every week
Every Monday, check what each product now costs you: the item, packing and any delivery you cover. Write it down. Most sellers lose money because they price from memory.
2. Use a margin, not a fixed profit
Decide the share of the price you want to keep, say 35%. When your cost goes up, the price goes up by the same share. Your profit keeps pace with the naira.
3. Change prices on a schedule
Pick one day a week to update prices, and only change them when the cost moved by more than 5%. Small moves can wait. Customers get used to a rhythm.
4. Protect your best sellers
If one product brings people to your store, you can keep its price steady for longer and earn a little less on it, while other products carry the increase. Just decide it on purpose.
