How do I price compared to other vendors or competition?
Your prices shouldn't mirror the booth next door—they should reflect the story, craftsmanship, and margins that make your brand sustainable.
The Narrative
The Empathy
You walk the market before opening and spot a similar product priced lower. The doubt hits fast—do you match them, hold your ground, or explain why yours costs more? Shoppers glance at both booths, and it feels like your work is being compared without context. That uncertainty is real, especially when you know every minute and material choice in your product but customers only see the price tag.
The Education
Competitive pricing starts with differentiation. Compare the feature set: materials, durability, design details, customization, and packaging. Translate those differences into value storytelling, like "my candles burn 20 hours longer," or "this bag uses reclaimed leather and comes with free repairs." Once the value is clear, price positioning becomes strategic. If you are the premium option, your price should signal that with clean signage, a consistent range, and a confident explanation. If you are the mid-range option, anchor with a hero product that shows quality at a reasonable step-up from budget vendors. The goal is not to be cheapest—it is to align your price with the value you deliver and the customers you want.
The Solution
Build a pricing sheet that tracks competitor ranges alongside your own costs, target margin, and value cues. Add a short value story for each best-seller so you can explain the difference in one sentence at checkout. With a system like this, you can revisit competitor pricing without panic, adjust your price positioning when your costs change, and keep your differentiation clear even on busy market days. Your prices become a signal of trust, not a guess.
Stop Guessing. Start Growing.
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