Understanding Tariffs: Transparency in Pricing

As many of you are aware, the recent surge in import taxes—ranging from 10% to 50%—poses significant challenges for businesses looking to maintain their profitability. In light of these changes, we believe it’s essential to maintain transparency with our customers regarding pricing adjustments.

To address these tariff hikes, we are adopting a clear disclosure policy regarding our tariffs on product pricing. Here’s an example of how our updated receipts will look:

• Product X: $100
• Sales Tax: $6
• Shipping: $12
• Total: $118

It’s important to note that within that total, approximately $24 is attributed to tariffs. We anticipate that some customers may be surprised by the increase in prices, but we want to emphasize that this adjustment is not merely a way to boost our profits. These added costs are a direct result of tariffs imposed on imports.

Thankfully, since we source our products directly, we have better visibility and control over tracking these tariff costs. However, we understand that other businesses may find this more complicated depending on their sourcing arrangements.

Our goal remains to be as forthright as possible with our pricing strategy. We aim to keep increases to a minimum and avoid raising our base prices or profit margins unnecessarily. By being transparent about the impacts of tariffs, we hope to foster understanding among our customers and encourage an informed approach to shopping.

Thank you for your continued support and understanding as we navigate these changes together.