Saturday, June 21, 2008

Price tags, price tags everywhere!

I'm starting to price the products and get them ready to put out on the shelves. Lisa and Paloma, who is three, came out to help me on Thursday. I'm starting to understand why we need child labor laws--they love to help! And stickers are really fun! And they'll work for carrots and string cheese! Come to think of it, so would I. . .

I'll try to take some more pictures of the store today. All the painting is done now and it's getting very close to being finished overall. I took most of the day off yesterday--went to Champaign with Jon and his band for a lovely outdoor gig. I got to see a dear college friend of mine, Angela G. (hello, Ang!). I figured it may have been my last chance to see the band for awhile.


Anonymous said...

Hi Laurie,

Thanks for the special mention that really WAS me, not the other Angela. If you hadn't written so eloquently of how helpful she has been, I might have some jealousy cookin' up, but now that I have been mentioned personally in your blog (after whining to you), all is right with the world.

Is there some psychology to pricing stuff? For example, does that whole "$14.99 instead of $15.00" stuff work? MY thought is that you should price stuff so that the price of the product AND the taxes and surcharges and stuff come out to nice neat numbers. I read somewhere that it costs more to mint a penny than a penny is worth, so wouldn't that save resources if we just did away with pennies (except for Penny cartoons in the old Pee Wee's Playhouse show)? I also read yesterday that with our economy, those "dollar stores" are making a killing. Just call your store a dollar(s) store so you can charge more money. The dumb people won't know the difference until they are there, at the cash register and you are putting their $$$ in the drawer. Good luck! Angela

Fly Right said...

Some guy wrote a book about the psychology of pricing and why $15.98 is more appealing than $15.99, but $48.99 is more appealing than $48.98. I read a very long internet thing that he wrote and just as I was becoming rather curious about it, he hit me up for $50 (not $49.99) to get the full report. I didn't go for it, but as I am pricing things, I am wishing I would have gotten it. Maybe. My prices are basically what the company uses as their "suggested retail price". Some don't have one, so I make that up based on the normal retail markup (which is double the wholesale price). If it's a really heavy thing that cost me a crapload of S&H money I add a little on to help cover the shipping. So the prices at Fly Right Gifts are all over the place--some even, some in 25 cent increments, and some with the dreaded $.99 (those are usually the MSRP). Thanks for asking. I was afraid of that.