Or, This is Why I Can’t Have Nice Things
One of the most difficult things to do, when running a business, is figuring out pricing (though I’m still not sure if it’s harder than trying to find a steady supply of Red Heart yarn in Mexicana). You want to make a reasonable profit, but at the same time you don’t want your prices so high that people think you’ve lost your mind. In the past because my online prices have been criticized for being too low, even though they were the same as what they were locally and things sold well. But I gave re-evaluating my pricing method a try, anyway. I’ve been gradually increasing my prices, hoping to find that sweet spot. Unfortunately, while I did see a slight increase in online sales, locally they dropped significantly.
The response to this was that my local customers were not my “true” market. That I should ditch them and focus on my online sales if I wanted to make “real” money. Why? I created an online presence to supplement my local sales, not the other way around. Because your market should be those who can truly appreciate the time and effort you put into your work they said. Oooooh.
Then, the other night I had an epiphany, of sorts. I thought “this is elitist bull” (actually, that’s the sterilized version of what I thought). I like what I do. I wouldn’t be doing it, otherwise. Why should I price my creations so high that I can’t afford them? Why should people in my income range be limited to cheaply made (and often toxic) crap? Low/lower middle class people can appreciate quality, too. Why must it be completely out of our price range?
So I’ve decided to go back to my original pricing formula. No, I don’t intend to go “Walmart” (like they carry anything of quality). I’d like to see some income. However, I do plan on keeping my prices on the affordable side so that those without much expendable income can have a better chance at something they can enjoy and get much use out of. So they can save the money that would otherwise have been spent on replacing a cheaply made version and put it toward some other necessity.
So we can all have nice things.