I realize using even dollar prices like $60, $75, $200 is pretty typical at Art fairs especially because it makes it easier with cash buyers (no coin change needed). But there is something to be said about the very real consumer psychological effect of using fractions of a dollar ... Like $49.95 instead of $50.00 ... Believe it or not, consumers do seem to react more favorably to fractions than full dollar amounts.
So, assuming I keep my Art fair prices with full dollar amounts, should I offer my artwork in websites / online markets in the typical full dollar frame or in the perceived savings "fraction" mode?
Opinions/comments/brain farts are welcome. :-)
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I sell jewelry at shows and am currently setting up my website to sell from there. I check out other jewelry sites and have seen a few with prices at $19.95 or $12.99, etc. and it just doesn't look professional to me. My opinion is that you should keep your prices even - $9.00, $25.00, whatever. I think that marking your prices with cents off - $49.95 instead of $50 cheapens your work. You are not Walmart and, I think, do not want to look like you are selling as cheaply as possible. You are selling art to art patrons.
Hanne
Amy Schulz > Hannelore Jundt-PritchardSeptember 9, 2009 at 8:05pm
There have been other discussions on this. The consensus was basically having 95 cents at the end is for low-end crafts and consumables. I would not use it for your artwork. Now I do use $27 on a few items instead of $25 or $30 or so on, but generally go with the 5 to 10 dollar increments. It makes it easier.
Hugo Cruz > Amy SchulzSeptember 16, 2009 at 10:45am
Hello Jorge,
Unlike your rhetorical comment, yes, this question is absolutely for real. For higher priced items like OOAK paintings, sculptures, etc. my original question is of course not applicable. But I also do photography and sell smaller, consumer-friendly, lower priced prints. As I have said before, at ART FAIRS, keep your numbers even / rounded to the nearest dollar or five if you'd like. I always INCLUDE tax in the price when they pay cash.
However, for anyone who finds value in my very limited consumer test, I found that having the lower fraction-of-a-dollar ".95" price DID make a statistical difference in my online sales at Etsy, Yessy and ArtFire. On each site, I priced my lower-cost prints at an even dollar amount for a two week period. After that, I re-priced them at a "nickel" lower for a two week period. My only guess is that shoppers at these online venues seem to respond to the same model that works for the retail discount chains ... $29.95 seems to work better than $30 for certain venues.
Of course, my test was limited and many other factors could have played a role. But I think that if you sell low cost items in Etsy or the like, that this may have some merit. For those of you whom still scoff at the notion that consumer/industrial psychology purchasing models are not applicable to our artistic world, then you should not worry about what color your booth's/gallery's walls are, how you dress when you are at a show, whether or not you should use certain subtle aromatic "scents" at a show to set the ambiance to keep customers in your venue and motivated. There is value in learning what works for the big retail companies who spend millions on this type of market / sociological research. After all, we are all here to sell and expand our artwork to as many markets as possible.
I sell in Florida shows as well and have not ventured into out-of-state shows (yet). But I make it easy on ALL my Art Fair patrons by offering nice even numbers and INCLUDING the sales tax within my pricing ($50, $100, $150, etc.). I also add the sales friendly line of "Sales Tax Included" below my price tags.
So, not only do I offer the Sales tax but I also offer the standard incentives like (Buy two sleeved prints and get one free, or buy any 20"x30" print and get a 10"x15" free) and the same 10% OFF Offer on mail-out postcards that Linda and others have commented on.
Well, from the replies, I am guessing I did a poor job of presenting my question. Let me attempt this one more time and please wish me luck :-) :
It's an absolute given that at Art Shows/Fairs, where easy transactions and the occasional "cash" buyer is King, that EVEN. whole-dollar, pricing is an absolute MUST (i.e. $9, $30, $75, $490, etc.). I completely understand this and use this method. My question deals with pricing ONLINE only -- For instance, websites like: www.Yessy.com , My Website/URL, www.1oooMarkets.com , www.Zibbet.com and many many more. Also, I am not talking about whether or not to offer a better deal online than at shows or vice-vers (becaue this really varies ... Especially because people in my email list get great special deals and those whom are in my "VIP" repeat customer list get fantastic deals). What I am asking is, "Do you see any value in using pricing ONLINE ONLY that is slightly less than a whole dollar" (i.e. $49.95 instead of $50)?
Does this break from some old fashioned "artist code" that art should be priced in whole dollars just because it looks cool or uniform in the marketplace? OR, can an artist take advantage of the very real and very established psychological benefit of pricing an item, for example, at $49.95 instead of $50 ... And, yes, I understand that if a person is given BOTH prices ($49.95 and $50) the advantage is lost because anyone would realize it is only a freakin' nickel difference. BUT, in a blank slate, to a first time viewer, we, if not most of us, see $49.95 as a better value than if we originally saw $50. So, is there anything wron with using this method ONLINE or does it break away from the standard too much? Thoughts? Pros and cons?
Thank you
Geoff Coe said:
I'm not sure what state you're selling in...I sell only in Florida and can't speak for others. But in Florida the business owner is required to register with the state and charge sales tax (currently 6%) on purchases. Not only state sales tax, but sales tax for the county and municipality where the show is being held. So there go your round numbers. The comments on web vs. show pricing are interesting. Probably worth a separate post! :-)
Hi Geoff,
I do shows in WI, MI, IL, MN and FL. Each have their own way of collecting sales tax (ugh!). However, at all shows I like to keep things simple. Typically any cash transactions are under $100 for purchases. In order to avoid dealing with coins, if a customer pays in cash, I pay the tax amount - thus keeping the transaction in whole dollars. If a customer uses a charge card - I include the tax amount on that charge. I have found the extra incentive to pay in cash is appreciated by customers and since I have no charge account fees on that transaction, it works out to be pretty much of a wash.
Geoff Coe said:
I'm not sure what state you're selling in...I sell only in Florida and can't speak for others. But in Florida the business owner is required to register with the state and charge sales tax (currently 6%) on purchases. Not only state sales tax, but sales tax for the county and municipality where the show is being held. So there go your round numbers. The comments on web vs. show pricing are interesting. Probably worth a separate post! :-)
I use the website services of Homestead. It was one of the few that could accommodate my extensive use of folders and specialization. I also use their store for both my website charges & show charges via merchant services/Intuit. I love them and over the years have called many times. Their customer service is so easy to access and always helps me out quickly. I believe they have basic website services for $5 or so dollars a month. If you should sign up with them, please use my name as a referral. Have a great fall season Hugo!
Hugo said:
Hello Linda & Paula,
Thanks. Just curious, what website software or service do you use? I use Zencart (www.zencart.com) and am pretty happy with it. But I am always open to learning and considering somehting better.\
Thanks. Just curious, what website software or service do you use? I use Zencart (www.zencart.com) and am pretty happy with it. But I am always open to learning and considering somehting better.\
I do exactly the same Paula with my matted fine art photos. Typically at a show the prices are $5.00-$10.00 less than on my website. I also have a discount printed on the backside of my business card at the shows so anyone stopping by that show receives the 'show' price. That discount corresponds with a code number so when/if a patron from a show purchases from the website, I know which show they were at. Works quite well.
For both website and at shows I always list prices at a whole dollar amount.
Paula Johnson said:
My products are not fine art, however they are 100% handcrafted by me. The following statements may or may not apply to your business.
My prices on my website are more than they are at shows.
Web prices include shipping and applicable taxes; thus a higher price on the web.
The moral of the story: Buy at the show vs shop on the web
I get a lot of re-orders from my website vs first time shoppers.
I'm not sure what state you're selling in...I sell only in Florida and can't speak for others. But in Florida the business owner is required to register with the state and charge sales tax (currently 6%) on purchases. Not only state sales tax, but sales tax for the county and municipality where the show is being held. So there go your round numbers.
The comments on web vs. show pricing are interesting. Probably worth a separate post! :-)
I have customers who see a painting on Saturday, go home and look at the web site on Saturday night and then come back on Sunday to make their purchase. I can't imagine having to explain to them why prices are different. They are going to want the lower price no matter what you say or how much the difference is.
By the way, for my "mini" paintings, I use odd amounts even at the fair. I think it makes it easier for people to make an impulse buy. But I don't bother with the 95 cents. I go for the whole dollar to keep it simple. For example, if I want $50 for something, I will price it at $49. $90 becomes $89. It is just one dollar and I see more of them go out the door.
Replies
Hanne
Unlike your rhetorical comment, yes, this question is absolutely for real. For higher priced items like OOAK paintings, sculptures, etc. my original question is of course not applicable. But I also do photography and sell smaller, consumer-friendly, lower priced prints. As I have said before, at ART FAIRS, keep your numbers even / rounded to the nearest dollar or five if you'd like. I always INCLUDE tax in the price when they pay cash.
However, for anyone who finds value in my very limited consumer test, I found that having the lower fraction-of-a-dollar ".95" price DID make a statistical difference in my online sales at Etsy, Yessy and ArtFire. On each site, I priced my lower-cost prints at an even dollar amount for a two week period. After that, I re-priced them at a "nickel" lower for a two week period. My only guess is that shoppers at these online venues seem to respond to the same model that works for the retail discount chains ... $29.95 seems to work better than $30 for certain venues.
Of course, my test was limited and many other factors could have played a role. But I think that if you sell low cost items in Etsy or the like, that this may have some merit. For those of you whom still scoff at the notion that consumer/industrial psychology purchasing models are not applicable to our artistic world, then you should not worry about what color your booth's/gallery's walls are, how you dress when you are at a show, whether or not you should use certain subtle aromatic "scents" at a show to set the ambiance to keep customers in your venue and motivated. There is value in learning what works for the big retail companies who spend millions on this type of market / sociological research. After all, we are all here to sell and expand our artwork to as many markets as possible.
I sell in Florida shows as well and have not ventured into out-of-state shows (yet). But I make it easy on ALL my Art Fair patrons by offering nice even numbers and INCLUDING the sales tax within my pricing ($50, $100, $150, etc.). I also add the sales friendly line of "Sales Tax Included" below my price tags.
So, not only do I offer the Sales tax but I also offer the standard incentives like (Buy two sleeved prints and get one free, or buy any 20"x30" print and get a 10"x15" free) and the same 10% OFF Offer on mail-out postcards that Linda and others have commented on.
Well, from the replies, I am guessing I did a poor job of presenting my question. Let me attempt this one more time and please wish me luck :-) :
It's an absolute given that at Art Shows/Fairs, where easy transactions and the occasional "cash" buyer is King, that EVEN. whole-dollar, pricing is an absolute MUST (i.e. $9, $30, $75, $490, etc.). I completely understand this and use this method. My question deals with pricing ONLINE only -- For instance, websites like: www.Yessy.com , My Website/URL, www.1oooMarkets.com , www.Zibbet.com and many many more. Also, I am not talking about whether or not to offer a better deal online than at shows or vice-vers (becaue this really varies ... Especially because people in my email list get great special deals and those whom are in my "VIP" repeat customer list get fantastic deals). What I am asking is, "Do you see any value in using pricing ONLINE ONLY that is slightly less than a whole dollar" (i.e. $49.95 instead of $50)?
Does this break from some old fashioned "artist code" that art should be priced in whole dollars just because it looks cool or uniform in the marketplace? OR, can an artist take advantage of the very real and very established psychological benefit of pricing an item, for example, at $49.95 instead of $50 ... And, yes, I understand that if a person is given BOTH prices ($49.95 and $50) the advantage is lost because anyone would realize it is only a freakin' nickel difference. BUT, in a blank slate, to a first time viewer, we, if not most of us, see $49.95 as a better value than if we originally saw $50. So, is there anything wron with using this method ONLINE or does it break away from the standard too much? Thoughts? Pros and cons?
Thank you
Geoff Coe said:
I do shows in WI, MI, IL, MN and FL. Each have their own way of collecting sales tax (ugh!). However, at all shows I like to keep things simple. Typically any cash transactions are under $100 for purchases. In order to avoid dealing with coins, if a customer pays in cash, I pay the tax amount - thus keeping the transaction in whole dollars. If a customer uses a charge card - I include the tax amount on that charge. I have found the extra incentive to pay in cash is appreciated by customers and since I have no charge account fees on that transaction, it works out to be pretty much of a wash.
Geoff Coe said:
Hugo said:
Thanks. Just curious, what website software or service do you use? I use Zencart (www.zencart.com) and am pretty happy with it. But I am always open to learning and considering somehting better.\
Thank you
For both website and at shows I always list prices at a whole dollar amount.
Paula Johnson said:
The comments on web vs. show pricing are interesting. Probably worth a separate post! :-)
By the way, for my "mini" paintings, I use odd amounts even at the fair. I think it makes it easier for people to make an impulse buy. But I don't bother with the 95 cents. I go for the whole dollar to keep it simple. For example, if I want $50 for something, I will price it at $49. $90 becomes $89. It is just one dollar and I see more of them go out the door.
Barbara Sistak Barb
Art in Good Taste
http://www.sistakbaur.com
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