Hello…
I have a question and I am hoping that those of you that sell both
retail and off of your own web sites can help me with.
I’ve recently had my baubles picked up by a store…they love them
and are doubling my wholesale for their retail. I know that this is
how this works and that’s not my question…my question is this…I
am putting these baubles up on a small web site and am going to be
selling them there, as well as in the retail stores. How should I
price the items that are on my site compared to what the price
points will be in the stores? Should my web site retail match that
of the shops or should I price a bit above what my own wholesale is?
This is how the shop owner explained that I should price my online
baubles…take my wholesale and add something like 8 or 10% because
no other stores would do business with me (carry my baubles) if I
sold my items online at retail prices because it would be direct
competition with them…it doesn’t make much sense to me since my
view is that I’d rather have the same item on my web site that I’m
selling in their stores at the same price point they’re offering to
the public (rather than cheaper) so I don’t undercut my retail
outlets and get them all honked off to where they drop me because
I’m pulling business away from them with lower prices. I really want
to have the exposure of having my jewelry in the stores that I’m
approaching and have the items on my web site too. Not everyone can
get to New Jersey, Denver or Ketchikan Alaska to buy these
baubles…I don’t want to be dropped like a hot potato because I
pull business away from them with lower prices. Does this
convoluted explanation make any sense??
How should I handle this pricing dilema and is the store owner right
about selling my baubles off of my web site for less than her retail
price…because again…it doesn’t make much sense to me but I’m new
at this and would REALLY appreciate the help.
Thanks in advance and I look forward to hearing from you soon!
Camille Rafa
www.bivouacgallery.com/babybaubles