“You’re not f--king around, are you?” is what she said when I told her how much I was charging for a specialty apple pastry at the Barryville Farmer’s Market last fall. “Nope, I’m not” was my unwavering response. Why would I? $8 was a fair price for what I was offering. She respected that and bought two.
I wasn’t selling an 8 pack of supermarket muffins baked 5 days prior. I was selling a seasonal pastry I’d invested in developing and had paid a hefty wage to bake that morning with apples I’d bought from a fellow farmer’s market vendor. I was proud to offer it for sale for a price that respected what it was. It sold out by market close.
I don’t know why, but when you start making things to sell, pastries, soaps, classes, etc. your first instinct is to apologize for the price tag. You calculate your costs and then squeeze your margin to a price you can’t sustain because you’re afraid of what people will say. You fear the two second pause when someone picks up your product, reads the price, sighs and puts it down. No sale as the ultimate boogeyman.
Yeah, that pause happens and it’ll happen to you, no matter how much you discount your worth. You will not sell to everyone. To avoid that pause, you default to discount pricing your craft. You tell yourself you’re being generous. You aren't.
You're showing a lack of faith that anyone will pay what it’s worth. You’re telling the world you don’t believe that what you’re selling has real value.
When you underprice something you’ve poured genuine craft into, you put out breadcrumbs on your path to ruin in ways you probably haven’t considered.
First, low prices are a red flag. A buyer looking for a made for them product doesn't see a hand-poured bar of soap selling for $3 and think, “What a steal!” They think, “What’s wrong with this?” Bargain pricing invites doubt.
Second, low prices breed indifference. If your craft product costs just a little more than they’d pay for something similar at the big box store they question whether they should buy from you at all. Even if they bought once and liked your story, the moment you don’t meet their expectations in any way, you’ll never see them again. They’re not invested in you, you’re replaceable.
Third, low prices force you to cheapen your process. You buy worse ingredients. You rush production. Your craft turns to crap, the ultimate disservice to the people who liked your work in the first place.
Like it or not, the price you print on your sign tells your intended customers what to expect. Selling to people who care about and can afford to pay for quality? Don’t end your price in 99 cents or show a discounted price. I get that it’s uncomfortable to stand behind a price without gimmicks around it.
If your final price doesn't make you wince just a little bit, you're subsidizing your customer's purchase with your own survival.
Setting a price that feels uncomfortable isn't an act of greed. It’s a printed sign that reads, “I didn't cut corners on this. I’m going to keep making this ever better, and I trust you to have the taste to value my craft.” The customer gets to decide if the price you’re charging is one they’re willing to pay. That’s commerce.
Pricing yourself at a discount buys you sales that won’t repeat. Pricing at your worth buys you credibility you can’t f--k with.
What’s your price buying?
Disclosure: I write these posts. AI helps me edit them.