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Different ways to price your products

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  • Different ways to price your products

    I have been selling these products for many years and I wanted to offer a few ways I've done things with great success.

    1. Just showing the catalog has always worked, but to snare your customers by always offering something FREE with any order. Set a price
    guide for free items, EG: If they order 1 item over $25.00 offer something under the catalog price of $3.99, If they order 1 item over $50.00
    give them a free item at the catalog price of $8.99. You get the gist of it. SLC famous buy 3 get 1 free has always been a good buy, but I find
    people are hanging onto their money so offering a loss leader is a great way to get that first order.

    2. Flea markets are great as long as you have a LARGE selection of best sellers and impulse items. I did these for years. One thing I do know,
    people who attend these want great deals! Show the retail price of items on clearly marked tags, cross out the retail and offer huge discounts.
    Buyers are visual and when they see the retail crossed out and a deep discount, they buy, buy, buy! Always stand up and talk to everyone who passes
    by, and smile a lot! Also don't group same items together, mix it up so the shopper has to stop and linger to see everything. This is a great way to build
    up customers so have catalogs and a signup sheet for mailings. I would buy the last years Bayberry's which can be bought for deep discounts.

    3. Parties: One thing about parties is most people want to use credit cards and you will have higher sales if you take them. The alternative to
    credit cards is PayPal, which is what I use now. If you don't have a PayPal account get one. It is the cheaper way to go. Having a theme helps
    to promote and get people to come. I have used best sellers and sold them the day of the party, the buy 3 get one free, and offering 25% off orders.
    Starting out will be slow as when people sign up to have a party, a lot will cancel later. To avoid this, offer great hostess gifts by hand picking items
    you are familiar with and have been in the line for a long time. Play a game and give out prizes (loss leaders), promote coming by offering a small gift to those who bring a friend! Again, price items you bring with discounts off the retail to sell them on the spot! Have plenty of the big catalogs to ensure everyone buys
    something and offer some kind of free item with every sale.

    4. If you are new to this business and are unfamiliar with the products, have friends over for coffee and snacks, show your catalogs and then offer to let them buy at the yellow price. Everyone pays their portion on shipping and have the merchandise shipped to your house. Invite them back over and everyone opens their
    "gifts" for all to see! You still make money but you also get to see the merchandise, how it's packed, how it looks when arriving. I did this and it worked great to get started. Granted, you may have to continue to offer these friends that deep discount, but what a great way to see the many products and have a good time with

    5. A lot of times when I show catalogs the first thing I say is "Never mind the price listed, I will give you a special price." Then when they pick out a few items I will go
    a few dollars more that the yellow price, but definitely lower than retail. Try to offer 25-30% if this is their first order. It makes the customer feel special.

    6. If you can order items soon to be discontinued this means extra savings! The more you can order to take advantage of SLC free shipping do it! This gives you a lot of wiggle room for pricing, and price is everything to the customer. The more they feel like the savings are too good to pass up, the more you will sell.

    I hope this helps.

  • #2
    how do you know what products are going to be discontinued?


    • #3
      It seems with the many changes, they no longer have this option. You used to be able to order kits that were discontinued items. This could be done with clearance items with the same outcome.


      • #4
        A great way to be able to take credit cards is with PayPal or Square. I have had a PayPal account for years and use it on my website, but it is very limited with what smart phones it will work with. After taking back a phone and the 2nd still wouldn't work with Pay Pal, I decided to check out Square. It works just great with my android phone and it just as cheap as PayPal. Only takes one business day to clear into your checking account.


        • #5
          It used to be that that the wholesale price was 1/3 of the retail price in the catalog. Evidently too many people complained about the high retail prices (instead of thinking of offering a discount deal) so now the retail prices are only 2x the wholesale price.


          • #6
            Unless I am reading it wrong, I have lost my discount all together. When I signed on with SMC back in 1991 I only paid 1/3 the listed price. Then it went to 1/2 the listed price. Now I believe I am being charged the same as listed price. Anyone know what happened? Am I seeing this correctly? hmmm


            • cfeyen
              cfeyen commented
              Editing a comment
              You have to be sure that you are logged in or you only get retail prices. Also you have to keep up your annual membership fee.

          • #7
            Gift Ladys ideas were all great in the old SMC days but with the new pricing it is pretty hard to offer customers discounts. You need to buy for at least 1/3rd of retail to offer any discounts. Not dure how long they can last without getting new members who it takes awhile to figure out the system!


            • #8
              Since I don't use the catalogs to sell, for the items that I sell at the flea market/ swap meet I still mark my price at 3x the wholesale and then mark them down to a little over 2x. I can still haggle with the customer and get my 2x on many items.


              • #9
                its true, the old smc programs were a lot better especially when they provided a yellow price booklet so we automatic had a lower price we could sell to partys, flea markets and gift shops. I read that becuz of lower sales, slc discontinued a lot of the myth and legends and other collectible, this damaged my sales with over 250 gift shops in oregon and Washington becuz I could no longer get the products they wanted to carry, and slc, went directly into more home de4cor and garden items. while you might get some sales, during the summer on these items, I could not get my customers to buy any of the home d├ęcor except for one shop that mainly bought them for their own use and not for retail. and even then several of the items they wanted were out of stock and when given a date for new stock when that date came around the items were still ou tof stock or discontued becuz slc could not get enough orders for minimum orders. this makes us yoru customers very upset and its bad for business forour customers. I been forced to find other sources to find the items I need for my customers and makes me very unhappy with the way smc/slc company has become. I'm holding out for big changes back tot heold way smc used to work. otherwise I may drop my membership


                • #10
                  I was very unhappy with the service we received for the Christmas season. Ebay shut down my account because I had too many items that I was unable to ship. I was really disgusted with the lying and lack of follow through. I had an item where the creation date on the tracking number was BEFORE I even ordered the item. That's when I knew I couldn't trust anything they said.


                  • #11
                    Originally posted by cfeyen View Post
                    I was very unhappy with the service we received for the Christmas season. Ebay shut down my account because I had too many items that I was unable to ship. I was really disgusted with the lying and lack of follow through. I had an item where the creation date on the tracking number was BEFORE I even ordered the item. That's when I knew I couldn't trust anything they said.

                    cfeyen, we're sorry about the issues we all experienced during the holiday season. Our staff did the best they possible could with the information they had, some of which changed by the minute. The warehouse and shipping has improved significantly since the move, and our shipping times have been better than ever before. If you're having any issues with your business, please call Member Services as soon as possible: 1-800-345-4762

                    Best wishes!


                    • #12
                      We have been members since about 2007 and had limited to OK success wholesaling to retail stores the old fashioned way. The drop shipping system of SLC is great and we could sell much more with competitive distributor prices, expanded resin gift ware categories, lower shipping costs. We never add a profit margin to our shipping costs at our own warehouse! Anyway, SLC cut out the white price distributor level without giving us notice. This forced us to increase our wholesale prices somewhere between the suggested retails and SLC wholesale price that we pay for the items. It forces our retail stores to inflate the retail prices much higher than the World of Products catalog SRP's. Several of our retail shops said the World of Products catalog has desirable items but the prices are too high and we have lost their business. It seems that SLC forced loyal white price distributors to pay yellow prices and that really hurts. Obviously, selling websites and e-commerce have won the day because everybody else is out the door.