Yes my invoices have raised dramatically. It's because when the loonie dropped the wholesalers held out raising it for some time by giving specials to compensate but with new stock arriving they could no longer eat the loss. So now things are way up. I see it when I have to price new shipments and way more than before. Big can of tetra bits used to be about 24 retail thrn 28 and now about 32!!! I do some deals on multiples but can't do the low prices I did before .
I worked in retail for years and store markups usually run between 300% to 1000% of the Seller's wholesale purchase price. Many sellers have room to negotiate, especially if you are buying multiple items. So shop around. Also, two LFS I deal with offer "Price Matching" - even will do so with lower Walmart and online store prices. It doesn't hurt to ask: The worst they can say is "no." Naturally, with any retailer's stock, check the expiration dates. Lower prices may mean that there is not a whole lot of shelf life left. As long as the product will be used up within that time frame, snag a sale when possible and stock up.
I said that markups USUALLY are 300% - 1000%. There, of course, could be exceptions.
And as far as the OP's original question is concerned, the OMEGA food went from $26.99 to $39.99 which is an increase of 50% in less than a year. On June 5, 2016 the conversion rate was 0.7776 whereas today the conversion rate is 0.7299 . . . a difference of 0.477 - just under a nickel. This (roughly 6%) drop in value of the loonie cannot ALONE justify a 50% increase in price, so other factors BESIDES the value of the loonie must be at play with the OP's retailer.
Surely within this 50% increase in price, there would be room to negotiate. I maintain that it IS (still) worth asking questions and shopping around from one retailer to another.
Yes definitely a big increase but don't think my omega went up too much.
Only other factor is food permits which are. Ow every 6 months for every sku.used to be once a year.
I've never heard of a store doing that much markup.
Fish tanks are rule of thumb 1.4
Dog food only 1.8 and supplies x2.
I work for a wholesaler ( plants) and the standard mark up is double plus freight. What type of retail did you work in that marked up
300-1000%? I just want to know what to avoid, lol..
As far as increases go don't forget that there are other factors besides the US exchange, freight charges are
ridiculous and only getting worse.
Re: " . . . As far as increases go don't forget that there are other factors besides the US exchange."
Of course there is which is why I stated that "other factors" had to be in play BESIDES just the USD conversion rates.
However, the comment to which I initially responded (Post #5 with clarification added in Post #8) was that the "falling loonie" was given as THE (only) reason in Post #2. As far as markup rates are concerned, these are all over the map. Hypothetical Example: There are items bought from wholesalers for $10 and sold by retailers for $30. That is why, later, a retailer can have a "half price" sale and still make a few bucks. As far as I know, retailers in Canada are not legally/ethically bound to sell at the MSRP - "manufacturer's suggested retail price" - but that figure is used as a guide only. (Please correct me if I am wrong in this regard.)
ALSO : By "retail" I am not referring to only aquarium hobby shops. Retail is anything from clothing, jewelry, electronics, office supplies, cars, health and beauty aids, groceries, etc. Rates of markups vary greatly from one business to another - AS WELL AS within the aquarium and fish supply business.
So . . . shop around and take advantage of "Price Match Guarantees", when available, for aquarium and fish needs.
Yes all the materials used to make the products have increased and shipping to import the materials etc etc .
Landed cost is added in if importing . It could be companies who import from places
Like Alibaba this guy is speaking of . Peanuts for the product but add in the import and cargo fees etc etc and add all that in .