Saturday, August 9, 2008
Vendor Market in This Economy
Lately, vendors and handmade artists are not doing as well as years past. The reasons range from high gas prices, high food prices, and a generally weak economy. As vendors, we are tasked with selling our goods despite the economy conditions. Here are a few things I've tried:
1) Making super spectacular pieces that I can charge more money for. They are so spectacular at least one or two buyers are compelled to buy. These pieces make up for having less buyers. Although I still haven't made as much as previous years, it helps.
2) I have had to reduce prices on items that don't take me a bunch of time to make. Plus, I have items that costs as low as $2-$3. There are many times browsers really appreciate your products, but because things are so tight, they feel guilty spending $15 or $20, but $2-$3 is okay. It tends to add up for vendors.
3) Search Craigslist for events and community events that you wouldn't normally work at. When you respond to organizers inquiring about their events, ask for a reduction in fees or ask for them to charge based on percentage of what you make.