Pricing help again please, sock kit

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Pricing help again please, sock kit
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Downsizer Forum Index -> Small Business Questions, Ideas and Advice

How much would you hypothetically pay for this?

ï¿½13.50 and not a penny more

21%

[ 3 ]

ï¿½16.00

35%

[ 5 ]

ï¿½18.00

[ 1 ]

ï¿½20.00

28%

[ 4 ]

ï¿½other suggested below

[ 1 ]

Total Votes : 14

Author

Message

hedgewitch

Joined: 26 Nov 2005
Posts: 5834
Location: Daft wench GHQ

Posted: Tue Apr 24, 07 7:56 am Post subject:

I've voted for ï¿½16 as you want a quick seller, but I'd be prepared to go upto ï¿½20 myself. And I don't think that is expensive.

I'm not a knitter - I have only ever managed a couple of scarves and a dodgy jumper. But I am interested in knitting. I have no-one to actually show me how to knit and I've been wondering about a kit for socks as it seems nice and easy-ish but more of a challenge than a scarf.

I like the quality of the yarn and the needles. I want a knitting project to be a lovely, tactile experience not hacking at a ball of acrylic with a couple of plastic needles. I want a pattern that is easy to follow, and would gladly pay for this and the expertise of the person putting the kits together if I was confident that I could follow the pattern (which I am with Sally, from what I know of her on here).

I think all this is worth paying for - it's this expertise and experience you're selling as much if not more so than the materials themselves.

I wouldn't know where to start buying/sourcing a pattern suitable for a beginner, let alone buying the wool and the right needles. So the kit is great.

Things that would put me off are wool for 2 pairs of socks. It's a big commitment and I'm a beginner. I'd pay the same price for wool for one pair if you see what I mean?

Also I'd probably like more muted colours, but that's very personal and don't go off me as I know most people like bright colours.

Hope this helps.

sally_in_wales
Downsizer Moderator

Joined: 06 Mar 2005
Posts: 20809
Location: sunny wales

Posted: Tue Apr 24, 07 8:00 am Post subject:

Some excellent ideas there as always. I may put some of the yarn out in big hanks for whatever purpose someone might want, and reskein some down to 100g for the kits and price those as a one pair of socks kit. Great idea about the bag, I had been planning on using fairly good quality (so endlessly reusable) ziptop plastic clear wallets, but a cotton bag could be much more fun, shouldnt take too long to make some up or I could buy them in, maybe do an iron on transfer for the front with something suitably knitting inspired on it

toggle

Joined: 30 Dec 2006
Posts: 11622
Location: truro

Posted: Tue Apr 24, 07 8:02 am Post subject:

Next, you are not selling a bargain, you have to market this as a luxury thing. Lots of knitters get this. YOu see the people selling handdyed stuff on etsy. I'ts a luxury, craftsperson made product that needs to be marketed as such and presented as such.

you can't make any money selling it as a bargain. If 5 bargain hunters walk away from you, then so be it, because you've made the money you would have got from them, from the one person who wanted a luxury product, and you've spent the time making one kit, not 5.

You have to value your product in order to sell it as a product that has value. The sooner you start thinking of a craftsperson dyed yarn as a luxury product, the way your market does, the better it will sell. Dyeing isn't how to get the yarn off the stall, it's an art.

toggle

Joined: 30 Dec 2006
Posts: 11622
Location: truro

Posted: Tue Apr 24, 07 8:04 am Post subject:

sally_in_wales wrote:

a logo's bag would be great, particularly if ti's got your web address on it, so the knitter and her friends get a reminder of where they got this nice kit from and go want more and look at the other lovelly stuff you sell.

hedgewitch

Joined: 26 Nov 2005
Posts: 5834
Location: Daft wench GHQ

Posted: Tue Apr 24, 07 8:10 am Post subject:
I love the bag idea I'd like to be told, as a punter, that socks are an easily-portable project. Also, again as a punter, if I bought a sock kit, it would be a treat for myself. Toggle and Stacey are right on the luxury thing. I want to know it's something special, and would be prepared to pay for that special thing. And it is special and luxurious.

gil
Downsizer Moderator

Joined: 08 Jun 2005
Posts: 18415

Posted: Tue Apr 24, 07 8:14 am Post subject:

Think about what it is you are actually selling to people with this kit : not just a product, but an experience :

luxury, hand-dyed wool and
wooden needles (in an unusual wood), but

tried and tested instructions,
a natty bag to put it all in,

and a 'knitting experience', which can either be given as a gift (people's price sensitivity changes when they're looking for presents, as no-one really wants to be thought miserly), or knitted up by the purchaser to make them feel good that they have created something for themself [or a loved one] that will be unique. Going by what others have said in this thread, socks are challenging enough, but achievable.

Have you thought of doing the same thing with a hat kit ?

lottie

Joined: 11 Aug 2005
Posts: 5059
Location: ceredigion

Posted: Tue Apr 24, 07 8:20 am Post subject:

sally_in_wales wrote:

lottie wrote:

----but not slipper socks for heavens sake

----proper ones he would wear

The only reason these are being pitched largely as slipper socks is the thickness of the yarn, they would work under really big boots, but I don't think most people would fit them inside their current shoes, However, I'll have some sample socks knitted up so a prospective buyer could decide whether they would be house socks or bootsocks

Good idea----thickness wouldn't be a problem want them for boots/wellies---he has to wear thin boring blue/black ones with his respectable at work shoes. If the pattern was adaptable for a longer leg size could there be 2 price options slippersock/boot sock to allow for extra wool? socks are a nice idea 'cos it's a small project you can carry about with you not like a jersey.

Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Tue Apr 24, 07 8:22 am Post subject:

toggle wrote:

^^^^^

Wot she said x10

hedgewitch

Joined: 26 Nov 2005
Posts: 5834
Location: Daft wench GHQ

Posted: Tue Apr 24, 07 8:34 am Post subject:

Stacey wrote:

toggle wrote:

^^^^^

Wot she said x10

And I, knowing nothing, would believe the value you give it as a seller. Pile it high and sell it cheap and I'll assume that's all it's worth. Really.

lottie

Joined: 11 Aug 2005
Posts: 5059
Location: ceredigion

Posted: Tue Apr 24, 07 8:41 am Post subject:
Agree about the value and quality----If I am buying something to make as a gift I'd like to feel it was worth doing to have a fairly unique end product that gave someone pleasure to look at and wear----so prepared to pay more for it

judith

Joined: 16 Dec 2004
Posts: 22789
Location: Montgomeryshire

Posted: Tue Apr 24, 07 8:59 am Post subject:

hedgewitch wrote:

Also I'd probably like more muted colours, but that's very personal and don't go off me as I know most people like bright colours.

Me too. I know I wouldn't buy the brighter colours, but I would be very tempted by a kit with a more "earthy" blend of colours.
I agree with everyone who says that you should market 100g at the price you originally envisaged for 200g. The thought of having enough wool for two sets of socks would be off-putting for a beginner. (Or perhaps provide the instructions, and enough wool, for two pairs of short slipper socks or one larger pair of boot socks, so people can decide for themselves).

lottie

Joined: 11 Aug 2005
Posts: 5059
Location: ceredigion

Posted: Tue Apr 24, 07 9:02 am Post subject:
good idea about wool for 2 short or one long pair Judith----would this work out wool quantity wise?

woodsprite

Joined: 20 Mar 2006
Posts: 2943
Location: North Herefordshire

Posted: Tue Apr 24, 07 9:09 am Post subject:
Nothing to add on the wool front I'm afraid, knitting has never been my thing, I'm a sewing bod. HOWEVER, whatever you decide I for one will be queing up to buy one of the said kits at the Smallholder Show. I can't wait to have a go myself!!!!

lottie

Joined: 11 Aug 2005
Posts: 5059
Location: ceredigion

Posted: Tue Apr 24, 07 9:12 am Post subject:
Me too-----unless I'm moving that weekend

jema
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 28235
Location: escaped from Swindon

Posted: Tue Apr 24, 07 9:20 am Post subject:

You simply can't play the pile it high game with crafts, and I think you would find that if you relax about selling quickly and build up a well presented inventory of craft items that can be presented on a decent web site, then sooner or later the items will sell.
The math is clear.

item material cost ï¿½8.

Sell 3 at ï¿½12, profit ï¿½12.
Sell 1 at ï¿½20 profit ï¿½12. work load 33%

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