I had a business that I once had to increase prices and then ask for the money upfront for the service I was providing (high end preschool/Daycare). It was kind of a shock for my clients at first, but then they got used to it and they understood. As you are aware, there are candles that cost $200. Stand firm. It will be alright.
How do you figure shipping cost into pricing your candles? Like CandleScience's shipping when you buy stuff from them plus what you have to pay to ship to customers? That's giving me anxiety lol.
I priced myself just enough to cover my material and monthly subscriptions. I’ve finally met with my friend who works in finance specifically e-commerce and he adjusted all of my prices and justified it so I don’t feel guilty so it’ll be an interesting change!
I did like a $2 price increase maybe a 1.5-2 years ago (I can’t remember when! Lol) and I was super afraid it was gonna be a huge deal and people were gonna get upset etc but literally no one said anything and I didn’t notice any loss in sales whatsoever! In fact we had a better sales month the month that we increased them than we’d had that same month the year prior.
And I’m probably gonna have to increase my prices soon again too! I’ve done everything I can to get my cost of goods down but at least my large candles the profits are not where I want them to be still. My other stuff like wax melts and my smaller tins candles are actually doing pretty good. But my larger jars I probably definitely need to increase my prices a bit! Especially with shipping etc! 😅
I've never had to do so, mainly considering I never got to that stage with everything going on, but from watching other small business pages I see a lot of heated comments. "Taking advantage," "Priced out of the market forever," "I'll just get it from (big box store)," or "you forgot who your customer base is" and those were the tame ones. I have noticed after a few weeks they seem to calm down. And even some of the people who were vile in the comments came back nicer. It is as if people forget that small businesses are human.
I feel like maybe it’s *kind of* a good thing sometimes because it weeds out customers that aren’t really loyal to you anyways? Everything goes up, rent, grocery prices, consumer goods, etc, it’s just what happens! I understand people being upset having to pay more but again it’s just inevitable!
Groceries and the price of living is going up rent and mortgages that’s just the way of the world people go into business for prices I’m about to start my candle business I feel a lot of people on here are under priced for the market which if it works it’s works but I plan on doing a signature luxury soy wax candles for my business with high quality products Im putting time and effort into my products what I learned over the years people pay for what they want myself have purchased expensive candles that most people wouldn’t purchase that’s my thing so do what’s best for your business and your product should speak for itself
I had to increase mine this year too. I didn’t make an announcement though except to my wholesalers. I just sent out my new catalog and let them know I had to adjust pricing. I dont think it really effected sales it’s a little hard to tell because sales are so different this year due to the economy but in person events I did equal sometimes more sales than the prior year. I was nervous to make the change but I’m glad I did. I’m less stressed about covering my costs now.
I believe that many wholesale customers are now realizing that they can't always double the acquisition price anymore for items they sell in their retail locations. When I have raised my wholesale prices I gently mention this and they agree. I have some wholesale customers who got used to tripling their acquisition price but I think those days are long gone.
I do increases every year because costs increase yearly. My business continues to slowly grow. Im sure it would grow faster if I had a body that wasn't disabled and could keep up with my brain. Slow and steady is fine with me, as long as I'm in the green 🧡💞
I increased my prices with $3 (candles). I got less wholesale orders, but it could also be because of the economy. Direct to consumer sales are up a bit from last year. I plan on increasing a bit more in the future as well.
People here (Pittsburgh, PA) gawk that i'm selling a 12oz candle for 25$ at vendor shows it's so frustrating because I have to charge that to make any money... honestly even then if i include labor and not just consider vessels, wax, wicks and packaging... ooofff.
Some people would say you were overcharging if you were selling below cost. You have to have prices that are relative to the cost of goods. I don't know that I'd even announce a price increase. Just do it. Think of it this way. How many times do you get any notification of price increase rather than it just being different? You go to the grocery store and you still buy the $0.30 more expensive milk. You will still buy the diapers that went up $1. You get that McDonald's fries that are now $2.99 instead of $2.19 like last year. You go to buy Christmas gifts and pay the tag price. You order supplies that have gone up in price. It sucks, yes. But we all understand and expect it.
Those who love your products will understand and stand by you. I love your channel.
Thank you! ☺️
I had a business that I once had to increase prices and then ask for the money upfront for the service I was providing (high end preschool/Daycare). It was kind of a shock for my clients at first, but then they got used to it and they understood. As you are aware, there are candles that cost $200. Stand firm. It will be alright.
How do you figure shipping cost into pricing your candles? Like CandleScience's shipping when you buy stuff from them plus what you have to pay to ship to customers? That's giving me anxiety lol.
I feel you. I am getting anxiety reading all these comments ugh. Shipping alone is a killer. ugh
I priced myself just enough to cover my material and monthly subscriptions. I’ve finally met with my friend who works in finance specifically e-commerce and he adjusted all of my prices and justified it so I don’t feel guilty so it’ll be an interesting change!
I did like a $2 price increase maybe a 1.5-2 years ago (I can’t remember when! Lol) and I was super afraid it was gonna be a huge deal and people were gonna get upset etc but literally no one said anything and I didn’t notice any loss in sales whatsoever! In fact we had a better sales month the month that we increased them than we’d had that same month the year prior.
And I’m probably gonna have to increase my prices soon again too! I’ve done everything I can to get my cost of goods down but at least my large candles the profits are not where I want them to be still. My other stuff like wax melts and my smaller tins candles are actually doing pretty good. But my larger jars I probably definitely need to increase my prices a bit! Especially with shipping etc! 😅
I've never had to do so, mainly considering I never got to that stage with everything going on, but from watching other small business pages I see a lot of heated comments. "Taking advantage," "Priced out of the market forever," "I'll just get it from (big box store)," or "you forgot who your customer base is" and those were the tame ones.
I have noticed after a few weeks they seem to calm down. And even some of the people who were vile in the comments came back nicer. It is as if people forget that small businesses are human.
I feel like maybe it’s *kind of* a good thing sometimes because it weeds out customers that aren’t really loyal to you anyways? Everything goes up, rent, grocery prices, consumer goods, etc, it’s just what happens! I understand people being upset having to pay more but again it’s just inevitable!
Groceries and the price of living is going up rent and mortgages that’s just the way of the world people go into business for prices I’m about to start my candle business I feel a lot of people on here are under priced for the market which if it works it’s works but I plan on doing a signature luxury soy wax candles for my business with high quality products Im putting time and effort into my products what I learned over the years people pay for what they want myself have purchased expensive candles that most people wouldn’t purchase that’s my thing so do what’s best for your business and your product should speak for itself
Bravo 👏🏽 ❤❤❤❤
I had to increase mine this year too. I didn’t make an announcement though except to my wholesalers. I just sent out my new catalog and let them know I had to adjust pricing. I dont think it really effected sales it’s a little hard to tell because sales are so different this year due to the economy but in person events I did equal sometimes more sales than the prior year. I was nervous to make the change but I’m glad I did. I’m less stressed about covering my costs now.
I believe that many wholesale customers are now realizing that they can't always double the acquisition price anymore for items they sell in their retail locations. When I have raised my wholesale prices I gently mention this and they agree. I have some wholesale customers who got used to tripling their acquisition price but I think those days are long gone.
I do increases every year because costs increase yearly. My business continues to slowly grow. Im sure it would grow faster if I had a body that wasn't disabled and could keep up with my brain. Slow and steady is fine with me, as long as I'm in the green 🧡💞
I increased my prices with $3 (candles). I got less wholesale orders, but it could also be because of the economy. Direct to consumer sales are up a bit from last year. I plan on increasing a bit more in the future as well.
People here (Pittsburgh, PA) gawk that i'm selling a 12oz candle for 25$ at vendor shows it's so frustrating because I have to charge that to make any money... honestly even then if i include labor and not just consider vessels, wax, wicks and packaging... ooofff.
Ice of wax is crazy kiddo
Price
Some people would say you were overcharging if you were selling below cost. You have to have prices that are relative to the cost of goods. I don't know that I'd even announce a price increase. Just do it. Think of it this way. How many times do you get any notification of price increase rather than it just being different? You go to the grocery store and you still buy the $0.30 more expensive milk. You will still buy the diapers that went up $1. You get that McDonald's fries that are now $2.99 instead of $2.19 like last year. You go to buy Christmas gifts and pay the tag price. You order supplies that have gone up in price. It sucks, yes. But we all understand and expect it.
Every year, every business raises prices.