Price Increase

[wildangel112]

Ok, I know this may sound silly, but here goes. I've been doing all I can to keep from raising prices, even with the increase in shipping prices from some of my suppliers. But today, I've had to sit down and refigure some of my pricing since shipping on my jars has increased. I've actually got it figured where I can pass the increase on to my wholesale customers at what I still consider a very reasonable price, and not interfere with my retail prices. Npw for the big question.... How do you broach this to your wholesalers? Any suggestions or helpful hints? I'd sure love to hear them. Thanks everyone:) .

Rena

[barncat]

I had 2 price increases this past year, on different items. I made sure they had plenty of notice, like 6-8 weeks, and told them if they put their order in now they would get the lower price but after a certain date it would be higher. Surprisingly I had a huge increase of sales the week after the price increase, weird, but they didn't need it a month ago, so didn't really effect much on my end. My increase was by 10%.

[gingerinarkansas]

Everything goes up for everybody...people see that daily. If you give them ample notice of the increase, they should be understanding because they have to be going through the same thing. Ginger

[KristinesShower]

Completely agree - I've had to raise my prices once (because they weren't figured out right when I first started) and what I did was notify all my wholesale customers that X item was going to be going up 10% or translation at the time - it was actually 5¢ per bathbomb or something like that.

When you break it down to them like that, price increases don't seem so bad. Our suppliers give them to us (I think about the PET jars earlier this year going up), so that money has to be evened out somewhere.

[gingerinarkansas]

Jars and wax have both gone up earlier this year not to mention shipping on supplies. Everyone sees increases in everyday life on groceries and basic necessities...just a fact of life. No getting out of it. They should be understanding. Ginger

[Fire and Ice]

When I have had to raise my prices, I have always posted a notice both in the stores that I sell in and at show explaining why the price is going up. I post it one month before raising the price. I generally raise the price at the beginning of the new year as well. Though my wax has not increased in prices, many of the F/O, wicks, colors and jars HAVE increased in price

The sign will read something like this:

To our loyal customers~

Due to the cost increase of the material we bring in to make our soy candles and the cost of shipping, we are being forced to adjust our prices accordingly. The jars alone have increased 14% and the shipping in of the jars 30%.

But the quality, that you have come to expect from_____________ remains the same due to quality being the most important element of our candles.

The price increase will take place onJanuary 1,___________ This gives you time to stockup on your favorites now, before the price increases......

it might say something like this and my customers have always understood.

Fire

[wildangel112]

Thanks so much for your help with this, everyone. I really appreciate it.

Rena

[Crafty1_AJ]

I recently passed along a modest 10 cent per unit price increase to my customers and they didn't flinch. My jars have gone up 6% and shipping, as we know, is getting nutsy. Wax prices are up too. Had to do it.