You have the store, the furnishings, the racks, the signage…and you’re taking in inventory. Are you confident in your ability to price? There are so many factors involved in pricing—it is one of the most important pieces of making your business a success. At the same time, it is the most vague and challenging piece.
If you price too low, people will think that your product is cheap. It’s very tricky–you think low prices will bring in business, and it may, but you will not gain a reputation for having great stuff, just cheap stuff. You are thrift. Shoppers will come to you because you have low prices, but you cannot sustain a business at that level, and your consignors will leave.
If you have wonderful labels, top of the line, but you overprice, they will stay on your rack…forever. Or…you will have to reduce the price, and that sends a different message. Now the customer thinks there may be something wrong with the item, or perhaps start to doubt their taste or knowledge of fine clothing. Not good.
Either way, you are not building a reputation for wonderful clothes at great prices! When business is slow, it’s easy to start to doubt yourself, to second guess everything you’ve done. I’ve been there. It’s hard and scary. The most important thing about your business is pricing. You can have the most beautiful or trendy store–but if the prices are wrong–you’re in trouble. And don’t forget, there is always another store opening to compete with you.
The bottom line is pricing. It can make or break your business. Wouldn’t it be awesome if there was a system out there to help you price? Well– there is. The Women’s Fashion Pricing System is the answer!!! It works. No more stress, no more guessing, no more anxiety. We know the business you’re in, and we can help you make it successful. Just enter the brand and category and we give you the price range. It’s that easy!
Talk to us. Let us help you. You’ll sleep better.
Brenda Stark