Are you getting your 34%?

On May 24th 2011 a survey was released and mentioned on ABC News in Australia. The survey asked consumers how much profit or mark up a retailer should be happy with. The result was that customers feel that retailers should be putting a 34% mark up on products. This gives the retailer a about a 25% Gross Profit. The report went on to say that many retailers were marking products up by sometimes 200%. Customers have no idea of the add on costs associated with running a small retail business. But ,it is valuable to hear what mark up they feel is appropriate for a seller.