The phrase 'it serves you right' or 'it serves somebody right' means that you think the person deserved what happened to them. it is a phrase usually used as a reply to a story or anecdote in social contexts.

1. It serves them right for trying to skip the queue. Now they've been pushed to the back of the line.
2. When I saw the empty dinner plates, I thought: Serves me right for coming late to the party.

1. I have heard our competitors' account has been demonetised. It serves them right for using bad language.
2. If you lie to your customers it serves you right when you lose business.