Plant pricing starts with costs, but there are many other factors that are important when determining how much you should charge for any product. Knowing where to start can be a challenge, but there are strategies to keep it simple and get better margins on what you sell. Dr. Bridget Behe, professor of Horticultural Marketing at Michigan State University, will explain how retailers can better determine their costs, why consumers are sometimes willing to spend more than we think, and she will also share research that has demonstrated that raising prices doesn’t always scare off consumers.

Many retailers across the country, from New York City to the Twin Cities to Seattle, are facing changes in their minimum wage laws or competition from other companies that has necessitated a raise in wages. Usually, these changes are implemented slowly over time. At Heeman’s in Ontario, Canada, the family-owned garden center experienced a new minimum wage that rose by about $3 an hour overnight. Will Heeman, chief daymaker, will explain how the family-owned company adjusted by raising prices and share pricing mistakes that they’ve made and learned from.

Multiple pricing can be a good alternative to discounting, raise margins and move inventory faster. Jeff Christensen, senior hard goods buyer and visual merchandiser with SummerWinds Nursery, with three locations each in California and Arizona, will explain why multiple pricing has worked for SummerWinds in different markets and how they manage it, and how they’ve adjusted their prices in light of increased freight costs.