If you liked this video, check out: How to increase PROFITS with inventory management (for creative small businesses!) 👉 ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-dr-YHYMzHbs.html
As a buyer this is the best advice ever and such helpful advice I’m excited to share! I do especially love working with people as one of their first time buyers but it’s a journey getting artists there. I’m so happy to have something to share with people to help them thru their learning experience. I now want to update my page to add your video lol
Thank you so much, I'm so glad to hear you thought it was helpful for artists who want to sell their work in stores. And yes, please feel free to update your page and share this video with your artists!
Was this video helpful? If yes, type BADASS in a comment below! 👉Plus, check out the blog post for more info: www.badasscreatives.com/blog/how-to-sell-your-product-in-stores
Great video - thanks so much. I've been making jewelry for over 15 years and selling on Etsy and at arts and craft fairs under my own name. Etsy is great, but competition is high, which reduces visibility in the search algorithm and makes it such that pricing is at about wholesale. I would like to get in boutiques, but had a question about the pricing and marketing. If I am basically selling at wholesale pricing under my current branding (which is my name) through Etsy and in person, if I try to sell to boutiques, who could probably charge double what I am charging, am I better off creating a new brand and list the items and offer to the retail boutiques with the suggested retail price so that they will not worry that I am undercutting them and I could get the price I need, expand my market, and to make it worthwhile to not sell direct to customers? I do sometimes price higher and offer discounts through Etsy or in person, but my understanding is that there are FTC rules that require me to have products "on sale" and discounted for only short periods of time.
Hi, thanks so much, I'm glad the video was helpful! As far as the first part of your question - based on what you've described, yes I think it sounds like a good plan to create a different brand for the purpose of selling to retail boutiques, if you're going to continue pricing your products at essentially a wholesale price for direct sales via your Etsy shop and craft shows. There are pros and cons, of course, because you wouldn't get the benefit of increased brand awareness for your direct-to-consumer sales via having your products sold in retail shops, but if your main goal is purely to add a new sales channel (retail shops), I think it makes sense to either create a different brand for those sales, or depending on what the boutique would prefer you may even want to give them the option to "white-label" the jewelry you sell to them. (So you would sell it to them, and they could repackage or rebrand it as their own.) White-label products are very popular within a lot of larger retail spaces like grocery stores, but it's something that small boutiques can take advantage of as well. Here's a good article about it: www.shopify.com/uk/blog/white-label For the second part of your question - I'm not sure about how the FTC rules might apply here. I'm vaguely familiar with the rules you're referring to because those rules applied to some promotions we ran at a very large corporation I worked for, but a lot of times those types of rules are really meant for regulating very big companies. I'm not a lawyer though, so if you're worried about it you may want to consult with a small business lawyer. If you're in the United States, organizations like your state's Small Business Development Centers (SBDC) and SCORE are other great resources for those types of questions, especially since they may be more familiar with local & state regulations.
Heh, I was subscribers 750. Four wholesaling, in addition to that line sheet you mentioned detailing MSRP and wholesale cost, would it be who you to make a small catalog that's a PDF? I can't imagine that would really work if you had a lot of things, but in my case I'm going to start off wholesaling offering maybe six things, because what I offer is fairly niche, and I was thinking that a small PDF would be just as effective as having a catalog or anything else printed I could email, offer the PDF, and a free sample if people wanted them. Would that be something worth trying?
💖 YAY, thank you Steph for becoming subscriber #750! That's a HUGE milestone for me! For what you're describing, yeah I think a small PDF sounds like a great idea. That way you could package up all of the important info about your half-dozen products, including the MSRP, wholesale costs, some photos of the products and some other info, into a nice little package that would be easy to share via email or via a link on your website or Google Drive or something.
@@badasscreatives thanks for getting back to me so soon. I was thinking about that, because I'm known for my little glass hearts, and I was thinking that I would take a two-pronged approach. When I reached out I would talk to them about how a specific heart of mine would look in their shop. And then I would offer them a free heart. If they accepted, I would mail the heart out, but also in the packaging and in the email to inform them it shipped, I would include a link to the PDF that was my mini catalog. I only want to offer a handful of my hearts, my best sellers, because offering 40 different styles is just too much.
Sounds like a great plan worth testing! I agree that 40 styles is a LOT. There's a famous experiment that shows how the "paradox of choice" and decision fatigue can actually lead to LESS sales instead of more. Here's a great summary: hbr.org/2006/06/more-isnt-always-better Also, I'm currently working on editing my next video, an interview with my own biz coach that's all about effective inventory management and how it can increase profits and reduce expenses. We talk about some things that are related to this in terms of wholesale & consignment and working with retail shops. I'm hoping to upload it within the next week or so!
