In early 2019 I got an email from Wayfair about selling my mobiles on their site. To have my mobiles sold through a big time website that specializes in all things home decor? It sounded like the perfect fit!
I did a quick search for mobiles on Wayfair only to find that most of the mobiles were priced significantly lower than my own. Most of the mobiles on Wayfair are typical baby mobiles: made of plastic with tiny stuffed animals, and mass produced in China. I replied and expressed my interest in their offer as well as my concern about the price differences. How could my mobiles compete with such comparatively inexpensive products?
My contact at Wayfair reassured me that my prices would not be an issue, as my items would be marketed as a higher end product. So I decided to recalculate the prices for all my mobiles with plans to implement these new prices once my mobiles went live on Wayfair.
Revisiting the Pricing Formula
Upon revisiting my own pricing calculations (because of this on-boarding process with Wayfair) I saw what I already knew but had chosen to ignore many times - my prices were too low. I came to realize that I needed to better value my own time and my work and this was my opportunity to do so.
My higher prices would give me the freedom to offer coupons and discounts through my own site and my Etsy shop. I'd always wanted to do this but had never been able to because my prices were always too low. :)
A New Chapter for The Timeless Crane
I'm nervous and excited about what might happen with my partnership with Wayfair. I'm especially excited because I hope this will lead to more exposure and sales, and more happy babies in this world! :)