Why are renewal costs almost double the price?

[Shole]

I was suprised to have to pay a lot more than I thougth I would when renewing my domain, why are companies setting higher prices for renewal than for first time purchase?

 

[BrolySSJ]

I was suprised to have to pay a lot more than I thougth I would when renewing my domain, why are companies setting higher prices for renewal than for first time purchase?

Perhaps this is the way that they are making their profit because the first purchase that you make could be something like a discount with a trial to lure you in and then they charge you full price.

 

[Bousine123]

It might be just due to high inflation rate in the world, I heard that control panel have also increase their price, things are really getting more expensive these days.

 

[Kane]

Setting a low price for registration and the charging high for renewal is one of the business tactics implemented by the domain registrars. In 2016, I bought a lot of domains for $1 but had to give up these domains because the renewal price was very high.