Prices rarely ever come down. #entrepreneur #tips #shorts #short #shortsvideo #shortvideo

30 Dec 2024 · 1 min

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Steve D Valentine explains that when businesses stop needing to compete on price and raise prices, those higher prices tend to stick — raising profit margins rather than falling back. He connects rising construction and labor costs to persistent higher consumer prices and advises consumers and businesses to budget and structure deals with inflation in mind to avoid trouble.

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Any business that all of a sudden is like, they're not having to compete with prices and they raise their prices, it's just going to stay there. So even though we all talk about inflation and things going up and people will reduce things down, I guarantee you that if things change, the profit margins will just increase for them. Right. Because if construction increases, people are willing to pay that, which means, guess what? As a consumer, we have to budget for that. So it's not like our labor prices or anything else are going to go down anytime soon. Right. Everything's just going to increase, which means that our deals, we need to look at it in order not to get in trouble of increasing with what we've seen in inflation and stuff.