Price Points for
Your Jewelry Line

People start shopping for jewelry with one of two agendas. Sometimes they are looking for a piece that knocks their socks off or accessorizes an outfit - price is not a primary concern. Other times, they want a pretty piece but on a strict budget.

The interesting thing is that the customer's agenda can change as they're shopping. They may want to spend under $25.00, but fall in love with a $50.00 item and decide to stretch their budget. A budget can also go down the tubes if someone trying to accessorize a specific outfit finds a piece that works with several other outfits in their wardrobe as well.

On the other hand, customers may start out without a budget but find two items at dissimilar price points that would work for them. In this case, price may be the deciding factor.

Power sellers know how to position themselves at various price points to better increase their chances of making the sale. I have personally done this on the cane (furnace) glass page of The Bead Peddler® . Here I display three different grades of furnace glass beads at three different price points. My goal is to reach all cane glass bead buyers regardless of their budget and taste.

People selling in the brick and mortar world can also carry lines at different price points. The caveat is that the customer must be able to perceive a difference in value between pieces in different price points. Not only do sellers cushion themselves against customer's changing priorities, but they also position themselves to fill all of their customers' needs.

A customer may typically buy in the $50.00 price range, but occasionally go for a 'once in a lifetime' buy. Accepting credit cards and/or having a layaway plan will help encourage people to buy at a higher price point. QVC's 'easy pay' policy is a brilliant marketing tactic. People get their purchase immediately and QVC debits their credit card over several months.

Sellers should also give importance to the lower price point of their line. A big spender could be looking for a starter piece as a gift for a teenager and want something at a lower price. Or better yet, that teenager or young adult can become a customer. As their taste and budget matures, they'll still be your loyal customer.

Toyota is a master at maturing with their customer base. When they started selling in the USA, their biggest seller was their lowest priced car, the Corolla. Toyota's original car buyers are now in their 50s. Their biggest seller is the Lexus, but they still carry a complete range of cars and trucks at various price points.

What if you see the wisdom in presenting pieces at different price points, but decide that concept will not work for you? Maybe you only like to do high end, intricate designs or maybe you don't want to tie up too much time and money in one piece.

Here is where network marketing can come to the fore. Team up with someone who sells at a different price point than you do. Recommend each other when your customer is looking for something out of the ordinary.

This recommendation can take many forms. Word of mouth referrals from a vendor can carry a lot of weight with a customer. A high end designer can put their wares in a boutique that also sells mid range designs. Someone who sells Czech fire polish on the internet can exchange links with someone who sells Swarovski crystal.

Many sellers are afraid to 'give' the business away by referring customers elsewhere. But in the business world, it is often true that the more you give away the more that comes back to you. A steady customer who is looking for that special piece for her daughter's wedding will long remember your kindness in steering her to a high end designer. Chances are that she will not only come back to you again and again, but she will also tell many of her friends and family about your great customer service.