Expert Insights with Karen Thrussell Part 2: Pricing Strategies & Maximising Retail Profit

In part two of my chat with Karen Thrussell from remarketable.com.au, we continue our deep dive into the world of retail, focusing on one of the biggest challenges for business owners—pricing strategies and maximising profit. If you haven’t caught part one yet, I’d recommend starting there to get the full picture.In this episode, Karen breaks down the key differences between markup and margin and why relying on a simple formula to set prices might mean leaving money on the table. We discuss why understanding your gross margin is crucial to covering business expenses like rent, salaries, and marketing while still making a profit. Karen also shares insights into managing clearance and promotions strategically so you’re not unnecessarily discounting your best-selling products.We also dive into the power of exclusivity in retail—why having unique products, whether sourced locally or internationally or developed as a private label, can give you greater control over pricing and profitability. Plus, Karen sheds light on the importance of supplier relationships and how independent retailers can negotiate better deals, just like the big players do.There’s so much value in this conversation, so grab a cuppa and tune in—you won’t want to miss it! Let me know your thoughts, and I hope you find it useful.Karen Thrussellwww.remarketable.com.auwww.linkedin.com/in/karen-lurati-remarketableInstagram: @theretailmarketersWebsite: theretailmarketers.comYouTube Channel: youtube.com/@theretailmarketers

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