I am new.
I have just build a grocery store and I wonder about its prices. I produce grapes and sell them in my store at the default price which 6000+, I do not remember exactly. In the mean time I can sell the same grapes in the market for a much better price.
Of course I can change the price but will I sell any grapes then? Will demand go down?
And if somebody could post average prices for groceries that would be grand.
Thanks
Average shop prices
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Well, take a look at the point SUDE. As long as a product is not oversold you can calculate the price you find in your new shop times 1,5 when your wares are of quality 0. As grapes are only slightly oversold you should be able to sell them for 6.514 * 1,5 = 9.771.
Especially for grapes there is another reason that the market price is even higher and that is people make wine out of them and wine is sold for about 20.000 in the grocery shop. =)
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So I understand if I calculate the price wrong I will loose profit next month. Is that so? If a product is oversold how can I calculate what it can be sold for?
Also, about grapes - it is much more proftable to sell them in the market then in the store, right? -
If a product is oversold, you can still adjust the price through trial and error. You can also make use of the information in SuDe (avg selling price and avg ql) for reference. If you calculate the price wrong, you could loose profit. It is your job as the manager of your operation to make sure you have the right price (quote from my accting prof :P). It is also more profitable in the long run if you could find out the max price that the over-sold good would sell, even if you loose profit during the process.
As for grapes... it depends on the market situation (same for other products). You have to keep track of the market price and compare it to your estimation of the selling price in shop, and then make your decision based on them. Keep in mind you need to pay transport/commission for goods sent to market or other players. I would not comment on particular situations.