As a result, the company has started to increase prices.
Historically, 80 percent of Mistine’s sales were for products that cost an average of $3 each.
By boosting the average price to $6, Mistine expects the average order to increase from $27 to $45.
Wage increases mandated by Thai law will also significantly impact Mistine's pricing strategy.
Since 20 percent of production costs go toward wages, wage increases are increasing Mistine's prices by apporximately 6 to 10 percent annually.