I have been crazy lately with all of my suppliers price hikes! This year I have had to eat three price hikes from one supplier. Two were just across the board hikes on supplies and the third was a major hike on my incoming UPS shipments. I have ate all of these price hikes out of my profits and have only increased my prices once in the past two years. That increase was just made a couple of weeks ago. (From $9/4oz to $10) I have had no complaints and business has stayed about the same...THANK YOU! But I have just received another letter about yet another price hike.
Here's a quote from the letter: "The price of wool started to increase in January of 2007 and has continued to do so all year; the finer the wool, the greater the increase. there is no way to tell you this will be the only increase for 2008."
I hate hiking my prices but I just did the math....it's not good. I know that others are getting more for their fiber and I know that I am one of the lower priced "creators" but I still hate the idea of taking my prices any higher. I'm a frugal person and try to pass on great deals. But I may be forced to raise my prices if I want to continue doing what I do. I love what I do! So what do you as my customers and other fiber creators think? I'm not talking about a huge hike. But it would put my prices up there with most of the other sellers. Actually, it would be just squeaking below. I am looking at $11 or $12 per 4oz ball of my Custom Blended Roving. I use only top quality commercial grade fiber in my work. And my hand dyes are all from top quality commercial dyes. No mill ends or unknown fibers. They are veggie matter free and smooth in texture. And I do believe that they are worth every bit of what my price increase would be...otherwise I wouldn't consider uping the prices. I have started to import large quantities of wool from other suppliers but they are doing the same thing.
AHHHHHH! I hate business politics! I could really really use some feedback here.
Thanks everyone....I appreciate it.
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