Whether you are a consumer (like me) or a business owner cost is always a key consideration.
Lately, I have noticed companies adding convenience fees, surcharges for using debit/credit care, health fees to pay for employee health benefits and/or a living wage issue. No doubt, operating cost are a critical component in pricing a product. Some merely add the cost to the product, some separate it as a specific cost, some list the cost on your bill but leave it as an option for you to decide, then some absorb it so that customers don’t feel alienated and decide to take their business elsewhere!!!
“my accountant said I need to pass those cost on to my customers,” store owner
“we need to use the fee income to help pay for employee health benefits,” store owner
The practice is not new but as our society relies on technology via credit card, debit card, smartphone app, etc. it is interesting to note the slippery slope businesses must navigate as if not handled properly they run the risk of losing hard-fought customers.
What are your thoughts and/or your experiences?
Thomas Reports 