Or taking advantage of that happenning with the competition, to enhance profitability.
Make money is the point of pretty much all companies, and financially there are only 2 thinks stopping them from upping their prices:
If there is competition it will lead to losing customers (though thinks like branding subvert this quite a bit) which means the money they make with higher prices might actually be less.
If prices get too high people will choose the “do without” option.
Anyways, the point being that if there is a broader shift in pricing in the market, even companies that are not under the same financial pressures to up prices will still do it as the 1st of those price limitation is relaxed so they can make more money.
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Same reason everyone else is pivoting to profitability. Interest rates and loan servicing.
Or taking advantage of that happenning with the competition, to enhance profitability.
Make money is the point of pretty much all companies, and financially there are only 2 thinks stopping them from upping their prices:
Anyways, the point being that if there is a broader shift in pricing in the market, even companies that are not under the same financial pressures to up prices will still do it as the 1st of those price limitation is relaxed so they can make more money.