What is the retail price?
Retail price is the final price of an item that’s sold to a customer, who is the end user or consumer of that product. In general, the term 'retail price’ is used to differentiate from intermediate prices that are paid upward in the supply chain. When determining their prices, retail outlets consider both supply and demand and profit margins, while also trying to set different prices in comparison to their competitors. Many times, a distributor or manufacturer will offer a recommended retail price, to help ensure it’s aligned with the overall marketing strategy.