This is a Quora question I was asked:
What is the best way to raise prices of products selling to major retailers? For a consumer home products brand selling to major retailers online (Home Depot Walmart, Costco, and so on), what is the best way to raise prices? We are 3 years old and this is the first price increase. Ideas and strategies to get 3-5% without increasing our MAP would be great!
My answer is below.