Have you made any pricing changes recently and how do you communicate this to your customers?

[tranguyen]

Hi Seller Community ❤️

Between gearing up for the busiest shopping period of the year and challenging economic climate, we're hoping you can share:

Have you made any pricing changes recently and how do you communicate this to your customers?

We look forward to reading and learning more from your replies!

[NicholeB]

I have been promoting "New Collections" that will roll out November 30.  I am adding new products and new experiences.  I have been really hyping the new products (because they're amazing) and focusing on adding more value to what my Collections include.  For the most part, I do not announce new pricing.  It's a quiet change and new pricing is just sent out with new inquiries. 

[lonoa]

We have definitely made some price adjustments because due to low marketing budget and loss of employees since starting this company in Q1 of 2021

[13thst]

We have gone the opposite route.  We announced to our customers that due to increased costs of daily living we have placed all our items on a 30% discount.  We explain we have to buy gasoline, groceries, pay employees, and utilities just like everyone else.  We state we understand people are struggling right now.  We want to thank customers for continuing to shop at our garden nursery store even though times are tough.

[Michael_L]

They always say it's good to "think different" this might be the best example of it I've seen

[mksavage]

Similarly to many of the restaurants/cafes who already commented, we re-evaluate pricing seasonally, or when we make significant menu changes. This generally comes out to 2-4 times per year. We don't always change the pricing, but we look at what our current costs are, what the market is (by running comparisons to comparable businesses), which items are performing well vs. struggling, etc. We didn't raise prices for the first several years of being open, but we've been a bit more intentional about keeping up with inflation/the market the past two years. We don't ever announce the changes, most people seem to understand that prices are going to increase over time -- we just work really hard to make sure the customer is still getting a great value and experience.