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Upcoming GST hike: 'Businesses should focus on value, not just price'

For items with high price recollection, such as groceries which are purchased weekly, it is harder to change prices without being noticed. This is less so for larger ticket items that people do not purchase regularly, such as a car or even sports shoes.


THE impending goods and services tax (GST) hike is any time between three and seven years away, but it pays for businesses to start thinking about it now, said Jochen Krauss, managing partner at global pricing consultancy Simon-Kucher.

The uncertainty of the start date -...

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