Retailers fight back after costs rise
If you're like most consumers searching for the lowest prices when shopping, you need to know retailers have some tricks up their sleeve for fighting back against their own rising costs.
It's no secret prices keep rising. According to Consensus Economics, publisher of Consensus Forecasts USA, inflation and overall prices will rise a modest 2 percent in 2012, but income will not rise accordingly. Gas prices are expected to rise, and we can all personally attest to food price hikes. Even the U.S. Postal Service raised its rates in January, and it might do so again soon. Prices for branded goods in high demand such as Levi's jeans and Nike sneakers already rose 5 percent to 15 percent during 2011 and will rise another 5 percent to 10 percent before 2012 is over, according to retail analysts.
Be warned, say consumer experts and retail industry insiders alike, because the best price is not all you have to look out for when trying to get the most for your money.
More On Spending And Saving:
- Home budget calculator
- Saving Money blog
- Find the best credit card
- 7 more shopping secrets retailers won't tell you
More From Bankrate.com