Category: Pricing

Handling Holiday Pricing and Stocking of Seasonal Goods

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Q. I am a new gallery owner and this holiday season will be my first. How do I navigate the schedule and get maximum return on seasonal products?

A. Timing is everything when it comes to seasonal merchandise. One day after the holiday, it’s not going to sell for much more than 50 percent of the full retail price. When we had the shop, this was a constant struggle that impacts not just holiday-specific merchandise, but also the larger inventory of regular merchandise brought in for the fourth quarter. 

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New Product Pricing

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Q: I’ve been creating art for years, but I just recently began to sell my creations. I want my work to be affordable, but I don’t want to give it away either. Is there a rule of thumb on what should be charged for art and handcrafted items?

A: There sure is. Most often craftspeople underprice their work, not overprice it.

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