Retail mark -up
Retail mark-up is the difference between the price of a product and the cost of that product. Retail mark-up percentage is the retail mark-up as a percentage of a product’s unit cost. This method is commonly used to find the price of retail products which are somewhat of a commodity. Costs are fixed, and the market dictates purchasing price. Furthermore, many industries have a standard retail mark-up percentage which most products are sold at.
The retail mark-up definition is common to many products, services, and industries. Where retail sales are occurring, it is likely that someone used the retail mark-up calculator. It is important to note that retail mark-up, margin, and other comparisons of cost of goods sold and price are not the same.