[gorilladuck]

Considering my costs, I had thought my shirts were reasonably-priced. With the cost of the high-end blanks plus the Printmojo fulfillment fee, I am barely making a 50% profit. I sell the ones printed on AA for $22 and the ones on bamboo for $25. On other threads, people seemed to more often come down on the side of keeping prices little higher, but then that was before all of this financial melt-down panic. Since I'm no marketing wiz, it all has me pretty worried. Under these circumstances, should I eat the costs a bit in order to move merch? Other sites seem to sell shirts for less.

Aside from the cost issue, what are some other strategies you could offer specifically in this rapidly declining economy? How conservative should we all get? Should we stick to the same strategies we use in a normal economic climate?

 

[SBEMedia]

If you're not doing the fulfillment yourself, why not reduce your overall costs. Would you rather make 10% of 1,000 shirts or 50% off 200. I'm not saying your designs don't merit the price, but its always good, in good times or bad, to be very aware of costs and how that impacts your bottom line.

 

[jelias]

How about putting some of your stuff on sale for a few weeks to see if lower retails will increase your volume?

 

[CUSTOM UK]

Hi Ryan. I generally find that if people want the item you are selling, they will buy it. The prices you are currently selling at, are not excessive.

The media don't help the situation with all their negative doom and gloom talk. The reality is, that most people are still in employment, there have been no large scale pay cuts and everyone I know in business is still as busy as ever.

Once you start dropping prices, you are heading to Wal Mart territory and your products will lose their credibility. Sell on quality and exclusivity.

 

[gorilladuck]

Thanks everyone. I think I'll keep the prices as-is, but will have special offers and sales more frequently. That will make them affordable to more people, while at the same time staying out of Walmart territory. The prices are set in that range mostly because of the high quality of the garments they are printed on. The bamboo ones are especially worth a little extra cash.

 

[Leatherneck]

Don't lower your prices due to fear and panic over the economic meltdown, it's true if someone wants your product they will pay to get it. A frequent sale to motivate customers is always a positive. Good luck

 

[esentuals]

The only time you want to consider lowering your prices on a product is if you have excess inventory of it and your not able to sell it. Then have a sale on that item but keep your other products that are converting to sales as is.

I think if you have an email list this for me is where the money is. Easier to sell to those who have bought from you. Besides if you have a fan base for your shirts you can provide them with a monthly new design or a quartly anouncement.

 

[Showtime Tee's]

You could also give away coupons. This has been quite successful for me in the past and currently.

 

[Binary01]

use 21.99 or 24.99

 

[gorilladuck]

Yeah I've read about the difference that could make. Would my current customer be put off by me making this change? Had I started out with 24.99, that seems ok, but dropping the price one penny might come across as a cheap gimmick. Although I could make a joke of it on my blog, I guess.

 

[gorilladuck]

basically the only reason I've rounded it up to $22 and $25 is because it fits aesthetically next to the shirt title on my home page better than $21.99 and $24.99. That's probably not a good enough reason! I can change the font size for the price to make it fit if I want!

 

[Binary01]

just try it and see what happens....... when you read prices, most people only read the dollar amount at first glance...then the cents comes later....... why do you think the .99 cent stores make alot

 

[EnMartian]

If you're using high quality materials make sure you make a big deal about that. You said you have a blog, so talk about it there. Talk about the quality of the materials in the descriptions of your product. Educate people on what the differences are.

People will pay more for premium product if they know it's premium. Give them a reason to justify spending the money that you want to charge and you'll find people who will spend it. You're job is to convince them that what you're offering is worth the price.

 

[jkruse]

The reality is, that most people are still in employment, there have been no large scale pay cuts and everyone I know in business is still as busy as ever.

They're still busy because they have to do all the work of the people that got fired

 

[Leatherneck]

If you're using high quality materials make sure you make a big deal about that. You said you have a blog, so talk about it there. Talk about the quality of the materials in the descriptions of your product. Educate people on what the differences are.

People will pay more for premium product if they know it's premium. Give them a reason to justify spending the money that you want to charge and you'll find people who will spend it. You're job is to convince them that what you're offering is worth the price.

Great advice! absolutely you want to make people aware of your high quality materials. People are more willing to spend the extra $ for a good quality product. They just have to know what they are getting is worth the extra investment.

 

[gorilladuck]

One question I have is how I advertise the quality of the blanks I'm using without mentioning the brand name and giving up some of my branding. If I talk too much about how they are made will people get the wrong idea that I somehow produce the blanks myself? I currently keep the original tags in the shirts because I don't have the money to replace them with my own.

 

[esentuals]

One way is to talk about the thickness of the shirt if clients want a thick beefy shirt. By providing some information on what to look for in a shirt you provide something useful builds credability.

Now if the shirt is something like an American apparel product you can talk about how the shirts are shaped differently compared to a regular t shirt. Specialty shirts are either colored differently and provide a different texture or provide a snugg fit.

If anything have someone wear one of the shirts and take a photo of the shirt.

Ok now you can start by talking about that you purchase your shirts that are made with quality.
You can go into the stitch of the shirt, weigh of the shirt, colors ect.

If you can't afford a tag for the inside of the shirt you can take the tag off and screen print one on the inside. Of if you got a heat press have some made by stahls with your logo and then heat press them onto the shirt. It takes a little time but the little details make the difference.

One question I have is how I advertise the quality of the blanks I'm using without mentioning the brand name and giving up some of my branding. If I talk too much about how they are made will people get the wrong idea that I somehow produce the blanks myself? I currently keep the original tags in the shirts because I don't have the money to replace them with my own.

 

[PositiveDave]

You can always sell the same shirts at two different prices, one on ebay, one on your site?
I had a friend who ran a greengrocers, they put the same apples in two stalls at different prices, people would buy the more expensive because they must be better.

 

[esentuals]

very true. People view price as a determining factor sometimes as higher quality. To low of a price and people will assume its cheap.

 

[artistj]

Yeah I'm with the majority. Dont reduce the prices of your materials becuase it reduces the integrity of your brand and material. Do specials like for Xmas and make sure they know that it is exclusive and for a limited time only.