Let’s Talk About Prices, Baby.

August 17, 2017 by NJPainter

Preface: Jackets in my Etsy shop are priced between $150 and $300 (including shipping!) with one special jacket that is priced at $400. 

I cannot tell you how many times people have seen my jackets, assessed my prices and blurted out “You could charge $800 for this.”
or
“I saw a hideous spray painted leather jacket for $2,000 in the Hamptons.”
or
“People might actually be turned off because your jackets aren’t priced higher.”

Sure, ok, thanks for the advice.
But are YOU prepared to drop $800 on a jacket? How about $2,000?

What will YOU pay for something that you don’t really need?
Something that’s not a wardrobe staple?
Something you might even already own, even if you love what I’m doing.
What’s YOUR entry price when you’re casually internet shopping or walking by my booth at an outdoor market?

Assuming you are a normal person, with a regular job and an appreciation for unique items but also rent to pay.

Sure, there are people in the world who spend $300 on face cream and a few thousand on sneakers and casually own 16 cars. But I don’t live in that world! I live in this one.

Would it be cool if a celebrity wore one of my jackets? ONE HUNDRED PERCENT.
But marketing and pricing my one-woman creative biz as an exclusive luxury brand is not my game plan.

I want to be a part of a community making unique things that are also accessible.
I want to run a business that if I came across last year, while working a corporate job with a steady paycheck, I would have been thrilled to find a one-of-a-kind leather jacket for less than $300. I want to appeal to a wide range of people, whether it be creatives or fortune 500ers or bloggers or celebrities or librarians. Not just people who don’t care about price tags.

To be fair, I do think I have some room to raise my prices just a little bit. I started very low to gauge customer reactions but I will try to keep them low because I want people to buy them. Plain and simple.

I don’t want to house them in my apartment or schlep them from vendor event to vendor event. I want my stock of jackets to be evolving constantly so you check in with me often. I want you to see them, check the price tag and think “that’s not bad!!”
I want you to buy it and feel like you scored a super unique piece within your budget. I want you to take photos with it and put it on social media, I want you to wear it and talk about it and show all your friends. I want to stuff the pockets with my business cards so every time someone else asks you about your sweet jacket, you hand them my website. I want people to be excited about it because it’s special and available to them.

I literally cannot afford to sell “investment pieces” or hinge my efforts on some famous child being photographed in one of them.

So again, thanks for the advice. But instead of telling me to charge more, you should just jump on it while the prices are good.