Increasing your price

It is much easier to drop your prices than to increase your price. Trade customers will resist the increase and will prolong increasing their end user price as long as possible. Each customer will refuse to raise their price until everyone has done so, this is obviously because the end customer will buy from the cheaper supplier more often then not.
It is a difficult process to manage, one of our suppliers has been forced to increase both the trade price and subsequently the end retail price due to the USD strengthening over the past year which increased their buy price.
They asked us to raise our price but never put a deadline on it which they should have. We are a few months down the line now and are not happy to raise our price as there are still other people selling the items at the previous lower price. If they had been firmer and stricter they may have been able to avoid this problem.