After seeing so many “Under $100”,“Under $50” or even “Under $25” editorial requests coming from magazines and blogs lately, many of our clients have ask us how to compete with some companies making large quantities overseas . Like many small businesses, they often make their products themselves or outsource to talented, fair-wage artisans all over the world.
The key is to be able to compete, but there is a fine line- when reducing prices, you don’t want to simultaneously reduce your brand profile. If you can offer, smaller lifestyle items and products that complement your line you can solve this problem much more easily. For instance, if you work in accessories you could create a collection of small leather goods like wallets, luggage tags or iPad cases. If you work in jewelry you could sell simple jewelry like small earring studs, a great way to segue into a lower price point.
We always recommend having several pieces of a the collection under $500 with options under $250, $100 and $50 to accommodate all budgets and remain high-end yet affordable!