What is a retail price?

A retail price is the price at which a product is sold to consumers in a retail setting, such as a store or online marketplace. This price is typically marked up from the wholesale price, which is the cost at which the retailer purchases the product from the manufacturer or distributor.

Retail prices can vary depending on factors such as the cost of production, demand for the product, competition in the market, and pricing strategies employed by the retailer. Retailers may also offer discounts, promotions, and sales to attract customers and increase sales.

Retail prices play a key role in determining a product's perceived value, as consumers often use price as a cue for quality. As such, retailers must carefully consider their pricing strategies to maximize sales and profitability. Pricing too high may deter customers, while pricing too low may erode profit margins.