Retail pricing refers to the strategy retailers use to set the selling price of products to consumers. This price is influenced by various factors, including the cost of goods, competition, and market demand. Retailers aim to balance profitability while remaining attractive to customers. Different pricing strategies can be employed, such as cost-plus pricing, where a markup is added to the cost of the product, or competitive pricing, which involves setting prices based on competitors' prices. Understanding these strategies helps retailers effectively position their products in the market and maximize sales.