Definition: Retail Price

What is retail price?

Retail price is the price that a customer pays for a product or service in a retail store or online marketplace.

The retail price is typically determined by various factors, including production costs, distribution expenses, and desired profit margins. In some cases, manufacturers may provide a suggested retail price (MSRP) as a recommended price point for retailers, although the actual retail price can vary depending on market conditions and retailer strategies. 

Learn how retailers use PIM software to manage their product information.