Inflation in Industrials: Challenges and strategies for B2B companies
B2B companies are under great cost pressure due to the soaring inflation rates. This makes price adjustments practically unavoidable. But how can price increases be effectively implemented with business customers? We explain the challenges B2B companies are currently facing due to global inflation, and give you tips on how to adjust your prices successfully.
The rate of global inflation is at an all-time high; in March 2022 it was 6.2 percent*. This represents a major challenge for companies, one reason being that many of the leadership have never faced such noticeable inflation. This might explain why actions taken to mitigate the effects of inflation are surprisingly minimal, as we found in our study.
We surveyed over 3,000 companies, two thirds of them manufacturers and service providers in the B2B sector, on the subjects of inflation and price increases. The main finding: Pricing as the most important lever is far too often ignored.
