(ET)
Companies and retailers selling discretionary products such as apparel, electronics, liquor and cosmetics said they will increase prices by 8-10% to offset rising raw material and supply chain costs although it could impact demand for some products.
Companies across grocery essentials, personal care products, packaged food, and dining had already raised prices and will make another round of hikes in the new year. The cost challenge comes at a time when retailers across segments breached the pre-pandemic sales mark during the festive season and are trying to sustain the momentum in the next few quarters.
