I priced to low

[soycool]

This probally should be in the business side of things but I am commenting from the White Barn Candle thread. I priced my 8 ounce masons to low. So now I have limited my production that is for sale, currently I am trying to create more of a buzz you know people want what they think everyone else is getting. I dont know the effective date or what angle I am going to approach. But my prices are going up to at least 1.50 a ounce. I probally will have to change my jar. Hindsight is 20/20 Nat

[Vicky_CO]

I have warned my customers that there will be a price increase around June first. The cost everything has gone up from the wax to shipping.

[crazycacti]

I am under charging and as get new customers have wondered-do i charge them a new amount and let old buddies keep old amount--or do I bring newbies in on new rate and warn oldies --hee hee--like that-that as of May 1 or whatever the price is going up

afraid sales will drop since they like the cheap prices!!

[soylights]

I plan to charge the same amount until my old wax runs out.....I will be sending out a notice that my prices will go up along with the reasons.

I'm really bummed about the price increase.....I sell supplies here and there..I'm anxious to see what those customers will do.

Good luck everyone!!

[sockmonkey]

Yankee's candle prices have shot up by $1 each year for the past several years and people are still buying. I think it's only fair to send customers notices of when a price increase will take effect. I always send my customers notices and I think they appreciate that they can stock up at the old price instead of coming in one day and having sticker shock.

Just my opinion, but I think price increases should be across the board--no special prices for "buddies" unless they are buying in large volumes. If you offer different pricing for newbies, how long will you have to manage that price structure? Two years from now if you raise prices again for other newbies, will you then be managing three pricing tiers? It sounds like too much trouble to me.

[kidsngarden]

If you are going to raise the price, do so for everyone with advanced warning.

From the start I told family that they can always get a 20% discount. I have a friend who sends me check every month, a layaway of sorts. So she has an account with me and when she is ready to buy stuff I just deduct it off her account. Because she consistently spends about $1000 a year I give her 10% off the total of every order (which essentially makes her purchase tax free) and I always give her the heads up with clearance soap (she nearly always buys them up!). I also design custom gift sets for her free of charge every Christmas and other occasions should she need them. The girl never has to shop! She just calls me up, "I have this baby shower, can you put something together for me for $50?" and I don't complain!!! This has never been negotiated cause I didn't want something set in stone. But she's happy, I'm happy. It works.

Friends and family are also getting other perks like testing new stuff and they always LOVE free cast offs - LS that has seperated and is not sellable - but still great stuff, soaps and lotions that totally bombed and I can't move. Free is good!

So if you want to give buddies a break, give a discount - but with friends it's hard to determine who to give a discount to. Sometimes people think they are your "friend" cause they see you at the store now and then. That's why I only give a break to frequent customers and family.