Fire and Ice Posted January 8, 2008 Share Posted January 8, 2008 I just stopped into my local supplier of soy wax and was prepaired for yet another price increased and I wasn't disappointed. In five months, my wax has gone up $10.00 per 50lb box due to gas and fieght hikes. They have also informed me that prices will continue to climb and that they can only garentee the price until the next time they order. All od the smaller candle maker have folded and gone out of business. Over twenty five of them locally. These are the ones to get into it for a year and quickly fold due to mounting prices and a lack of ruputation and capital My prices went up Jan 1 of this year and though the customers balked, they quickly discovered I wasn't just raing the prices to make more profit. Are any of you noticing the increase in wax and how is it effecting your business? Fire Quote Link to comment Share on other sites More sharing options...
Vicky_CO Posted January 8, 2008 Share Posted January 8, 2008 It not just that that is going up that is hurting. FOs are on the rise so are packaging supplies. UPS, Fedex and DHL raised their prices. I am going to have to raise my prices soon. Which is really a pain I had to have a raise 2 years ago and I was hoping for one more year before I had to do it again. Quote Link to comment Share on other sites More sharing options...
Dolphin146 Posted January 8, 2008 Share Posted January 8, 2008 Most of my waxws have gone up about 6.00 for a 50lb box. I will soon have to raise my prices. My coustmers will not be happy about that. But what else can I do. If this keeps alot of the smaller candlers will go out of business. Regina Quote Link to comment Share on other sites More sharing options...
TxSioux Posted January 8, 2008 Share Posted January 8, 2008 It looks like soy waxes are going to be a real guessing game this yr. I've seen posts from several suppliers saying that soy wax prices are going to be based on a sliding commodity scale. That means pricing will fluctuate daily w/ the stock market closing price for soybeans & you'll never know where the price is going to be from purchase to purchase. I would expect a LOT of small candlemakers to drop soy this yr -- it's a bugger to work w/ & will be very hard to justify fluctuating costs to the public. I've just gotten through the testing phase of 70/30 & will definitely consider 50/50 if the cost gets too crazy. I *think* we'll see a LOT more people trying to buy as close to home as possible (to cut shipping charges) & altering the products they offer. I've never hosted a 'group buy' before, but I'm thinking about it, as prices rise. My husband works for FedEx & we can ship any package, any size, any weight for a flat $3.00 -- & I'm within driving distance of all the Dallas suppliers.Susan. Quote Link to comment Share on other sites More sharing options...
heirloomoriginals Posted January 8, 2008 Share Posted January 8, 2008 Yeah, it is sad. I am in my second year of selling and hate to have to think about quitting because I can't afford to buy supplies. Everything is getting so expensive.Steph Quote Link to comment Share on other sites More sharing options...
Janelle Posted January 8, 2008 Share Posted January 8, 2008 it is getting to expensive. It's a shame. I raised my prices last year because of the increase and already I'm finding that I may need to raise them again. I am scared that a lot of the wholesalers are going to start going where it's the cheapest instead of looking for quality anymore. Quote Link to comment Share on other sites More sharing options...
SliverOfWax Posted January 8, 2008 Share Posted January 8, 2008 The last time I bought comfort blend, it was $5 more per 50/lb box. That adds up. Quote Link to comment Share on other sites More sharing options...
Fire and Ice Posted January 8, 2008 Author Share Posted January 8, 2008 I guess I'm lucky in not having to pay shipping and I warned my customers 6 months in advance as to when and why prices were going up. When I place the signs and tell them what is happening, they understand because they were once candle makers too! Still other customers beat the price buy buying by the case. They get a small discount per candle when they buy by the case. Yes Vicky, I'm noticing the price increase in F/O & E/O too. I have no plans to switch waxes because I've used the same wax for five years and it's local. I also, unlike other chandlers locally, do not blame the retailer of the wax either. They're paying the increase too and they have to pass it on or close their doors. Fire Quote Link to comment Share on other sites More sharing options...
Holly Posted January 8, 2008 Share Posted January 8, 2008 Hi Fire,I have noticed increases too on things, and I believe UPS prices are going to go up...or already have...if I am correct. I will have to raise my prices too, and I am dreading it. How did you go about it? Did you post your reasons on your splash page? I am struggling with how I should word it on my site, so I have not done it yet. I actually have under priced my products from the get go, and now know that I need to raise them. I have avoided it because of the conservative area I live in. Although, there are areas around here that will pay a good price and fortunately, I have my candles in two stores in those areas. It's the craft shows and maybe some home parties that I worry about higher priced candles....competing with other companies. ~Holly Quote Link to comment Share on other sites More sharing options...
KarenOH Posted January 8, 2008 Share Posted January 8, 2008 My GB415 hasn't gone up yet but I know it's a matter of time. The shipping has gone up from $13 - $21 a case in 2 yrs, but by changing soy suppliers I have been able to save money on my wax which really helped. The jars I have been using have increased. My last order (Oct) was at 56 cents each, the order I am working on now is 65 cents each. Just thankful I can pick them up.I haven't raised my prices in 5 yrs but will have an increase this year for sure. Going to try to hold off till September but depending on what the soy does it might be as soon as March.Karen Quote Link to comment Share on other sites More sharing options...
Sharon in PA Posted January 8, 2008 Share Posted January 8, 2008 It looks like soy waxes are going to be a real guessing game this yr. I've seen posts from several suppliers saying that soy wax prices are going to be based on a sliding commodity scale. That means pricing will fluctuate daily w/ the stock market closing price for soybeans & you'll never know where the price is going to be from purchase to purchase. I would expect a LOT of small candlemakers to drop soy this yr -- it's a bugger to work w/ & will be very hard to justify fluctuating costs to the public. I've just gotten through the testing phase of 70/30 & will definitely consider 50/50 if the cost gets too crazy. I *think* we'll see a LOT more people trying to buy as close to home as possible (to cut shipping charges) & altering the products they offer. I've never hosted a 'group buy' before, but I'm thinking about it, as prices rise. My husband works for FedEx & we can ship any package, any size, any weight for a flat $3.00 -- & I'm within driving distance of all the Dallas suppliers.Susan.That would be very cool....I am sure that could help lots of folks out... Quote Link to comment Share on other sites More sharing options...
Candybee Posted January 8, 2008 Share Posted January 8, 2008 I had to raise my prices last year and will again this spring when I take my candles back to shows and update my website. Thank goodness for loyal customers! Although the last fundraiser I did this past December I had them sell at the new price to test it out. No one batted an eye at $7 for an 8oz soy blend jelly jar. Quote Link to comment Share on other sites More sharing options...
Fire and Ice Posted January 8, 2008 Author Share Posted January 8, 2008 Hi Fire,I have noticed increases too on things, and I believe UPS prices are going to go up...or already have...if I am correct. I will have to raise my prices too, and I am dreading it. How did you go about it? Did you post your reasons on your splash page? I am struggling with how I should word it on my site, so I have not done it yet. I actually have under priced my products from the get go, and now know that I need to raise them. I have avoided it because of the conservative area I live in. Although, there are areas around here that will pay a good price and fortunately, I have my candles in two stores in those areas. It's the craft shows and maybe some home parties that I worry about higher priced candles....competing with other companies. ~Holly Hi Holly, This is the way I worded the large signs on my table:To Our loyal customers:Ephesians Soy Candles must unfortunate annnounce that as of January 1, 2008 Our candles will be increasing in price. The reasons for the price increase is due to several increases in price of both our supplies, including wax, F/O and jars. This is not an increase we are taking to increase profits but to maintain the same quality stands of our candles. We have been informed by all of our out of state supplies that there will be price increases due to their increase in both shipping and freight prices. The farmers who grow the soy beans un the USA are also paying increase in their fuel coast in both planting and harvesting. We, at Ephesians Soy candles wanted to inform out customers as early as possible so that you may stock on our candles while the old price is still valid. Our candles are $ 10.00 a piece~ tax included. As of January 1, 2008 The price will increase to $12.00 each tax included. You should also know that are clamshells will remain the same price through 2008! price. $3.00 each or 4 for $10.00~ tax included. I began posting this in July of 2007. That gave the customers 6 months. They stocked up. I plan to tighten up my line. I only sell one size jar. But I plan to discontinue 3 scents and not put anything in their place. It's why I am trying to head in a different direction by leaning to make soap as well as lip balm, lotion, and body sprays. If I don't try and boarden my base of products, I will go under within two years. Fire Quote Link to comment Share on other sites More sharing options...
Wendy Shoofitz Posted January 9, 2008 Share Posted January 9, 2008 Why are you telling your customers your prices are going up? If they ask or even notice you can explain in way less detail. I think any normal reasonable person knows everything goes up. I don't see a sign in a retail store as I walk in telling us to beware of prices going up. I certainly would not advertise this on a website. Seems very strange to do this, JMO. Quote Link to comment Share on other sites More sharing options...
TxSioux Posted January 9, 2008 Share Posted January 9, 2008 Sure, a mass merchandiser doesn't 'talk' to their customers, but when operating on a volume as large as Wal-Mart it doesn't make much of an impact when a customer just walks away in disgust. As a small crafter, you're going out of business really quickly if you operate like a corporate pig. I was in advertising for 7 yrs & I think I understand what you're implying -- the 'we'll cross that bridge when we get to it' mentality? Well, it's really hard to track down lost customers. As a rule, people don't tell you what upsets them or why they don't plan to buy from you any longer ... they just walk away & tell everyone else why they're upset. It's far better to address an upcoming issue & look good, than zap everyone w/ no explanation & look bad. Don't you want to know why your supplier has raised prices & don't you feel better if it's an economic push they're forced to pass on? I do & I'd appreciate knowing a price hike is looming, so I can plan my purchases & not get caught one step behind. That leaves me feeling like I got screwed & moving on to another supplier ... even if they're charging the same price. Consumers have the power to destroy any business -- even Wal-Mart. But, hey, I'm sure a lot of us are willing to pick up any customers you make mad!Susan. Quote Link to comment Share on other sites More sharing options...
Fire and Ice Posted January 9, 2008 Author Share Posted January 9, 2008 Why are you telling your customers your prices are going up? If they ask or even notice you can explain in way less detail. I think any normal reasonable person knows everything goes up. I don't see a sign in a retail store as I walk in telling us to beware of prices going up. I certainly would not advertise this on a website. Seems very strange to do this, JMO. I know I notice hikes in prices in places I shop in regularly. $ 2.00 is a good size increase. It gives my customers time to get use to the idea and settle into it. The man who owns the tobacco shop I wholesale in jacks up his prices whenever he wants, He does it for profit. He's lost more customers because he's greedy than anything else. If he notices some selling well, he just automatically bumps up the price to make more money. Then, it stops selling. I value my customers and I keep them in the loop. I respect them and need them and they know it. They appreciate it too! Fire Quote Link to comment Share on other sites More sharing options...
Holly Posted January 28, 2008 Share Posted January 28, 2008 Hi Fire,I meant to thank you for posting this in response to my question. I got busy and forgot to get back to this thread. Thank you. I will be posting an annoucement regarding an increase in our prices on my website soon. I have been procrastinating on this for a while. I need to stop worrying about it and get it done. I hope it goes over ok. ~Holly Hi Holly,This is the way I worded the large signs on my table:To Our loyal customers:Ephesians Soy Candles must unfortunate annnounce that as of January 1, 2008 Our candles will be increasing in price. The reasons for the price increase is due to several increases in price of both our supplies, including wax, F/O and jars. This is not an increase we are taking to increase profits but to maintain the same quality stands of our candles. We have been informed by all of our out of state supplies that there will be price increases due to their increase in both shipping and freight prices. The farmers who grow the soy beans un the USA are also paying increase in their fuel coast in both planting and harvesting.We, at Ephesians Soy candles wanted to inform out customers as early as possible so that you may stock on our candles while the old price is still valid. Our candles are $ 10.00 a piece~ tax included.As of January 1, 2008 The price will increase to $12.00 each tax included. You should also know that are clamshells will remain the same price through 2008! price. $3.00 each or 4 for $10.00~ tax included.I began posting this in July of 2007. That gave the customers 6 months. They stocked up.I plan to tighten up my line. I only sell one size jar. But I plan to discontinue 3 scents and not put anything in their place. It's why I am trying to head in a different direction by leaning to make soap as well as lip balm, lotion, and body sprays. If I don't try and boarden my base of products, I will go under within two years.Fire Quote Link to comment Share on other sites More sharing options...
usairforce Posted January 28, 2008 Share Posted January 28, 2008 I know I notice hikes in prices in places I shop in regularly. $ 2.00 is a good size increase. It gives my customers time to get use to the idea and settle into it.The man who owns the tobacco shop I wholesale in jacks up his prices whenever he wants, He does it for profit. He's lost more customers because he's greedy than anything else. If he notices some selling well, he just automatically bumps up the price to make more money. Then, it stops selling.I value my customers and I keep them in the loop. I respect them and need them and they know it. They appreciate it too!FireThank You, Fire, for answering that question in a professional manner. It is all about respect, if we respect our customers, then in return, they will respect and be loyal to us. When you are a crafter, especially a small crafter, you tend to be a more home town business and when you take the time to make things known to your customers, then they take notice and they appreciate it! I hope that makes sense. Branda Quote Link to comment Share on other sites More sharing options...
cindym Posted January 29, 2008 Share Posted January 29, 2008 Luckily I bought enough wax at the of last year to get me through this year. I am seriously considering offering more b and b votives pillars, I have a supply of jars but who knows what the price of those will be when I have to order again. Seriously thinking of giving up candles altogether. We will see. Just the amount of money in testing is getting outrageous. Checking out lots of other home scenting options. Quote Link to comment Share on other sites More sharing options...
cindym Posted January 29, 2008 Share Posted January 29, 2008 Oh by the way Fire nice post. I had begun to warn my retail stores in the fall so they all have a heads up. I have to look at what I can compete with in the entire candle market. We do for the most part have a middle class market and their is a big crunch there already. Good luck all. Quote Link to comment Share on other sites More sharing options...
Fire and Ice Posted January 29, 2008 Author Share Posted January 29, 2008 Your very welcome Cindy!BTW, two weeks ago, the tobacco store I spoke of in this thread, cut back their orders by half. One store carries all the candles and the other local store just sends someone to retreave what they need. It totally messes me up when special orders are placed in the Dover store because I have to give them the special order and subtract the candles from the stock at the Phily store! :rolleyes2 ! It's a husband and wife who own both stores and they compete against each other for the best sales on paper. I'm totally caught in the middle! Fire Quote Link to comment Share on other sites More sharing options...
kandlekrazy Posted February 11, 2008 Share Posted February 11, 2008 The wax I pick up went up $7.00 a case in Jan and fo has gone up ridiculously at the local supplier. I can now order from CS and have it shipped cheaper than the local sell it! I know everyone, even the suppliers, are hurting with these increases, but I think this one company is just taking advantage on the fo...they carry the same mfg as CS so I know it can't be the mfg that has gone up so much. This year, I just won't be trying as many new scents, I'll be happy to just add a couple for each season or holiday. Quote Link to comment Share on other sites More sharing options...
momtohaley2004 Posted February 12, 2008 Share Posted February 12, 2008 Well, in addition to wax, be prepared for higher shipping too. Just saw on yahoo today that in May stamps are going up again for first class mail. Quote Link to comment Share on other sites More sharing options...
Misser Posted February 13, 2008 Share Posted February 13, 2008 My soy wax has been increasing about every 2 weeks. Quote Link to comment Share on other sites More sharing options...
breigk Posted February 14, 2008 Share Posted February 14, 2008 hi there, i can get soy wax still pretty reasonable i pay 1.21 a pound for it when i buy it in 100lbs. and it is the shipping that gets me it is about 45.00 to ship Quote Link to comment Share on other sites More sharing options...
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