Why quilt stores raise prices (even on existing inventory)
#11
Originally Posted by gaevren
Originally Posted by MTS
Originally Posted by bearisgray
So - in order to buy new inventory - the old/existing inventory has to be priced high enough in order to pay for the cost of the new inventory?
Sorry, gaevren, that not a valid argument.
In other circumstances, it might even be called price gouging.
2 LQS have gone from here now and the next is on their way - all the guilds i am in have a boygott on them.
the only voice a consumer has against sky high prices is to refuse to shop with the stores.
i buy all my fabric online and will never shop in the LQS. if i have spare funds to blow i'll give it to a charity not to a LQS and their gouging.
#12
Super Member
Join Date: Dec 2008
Location: Tulsa, Oklahoma
Posts: 4,413
Originally Posted by Grama Lehr
Sorry to say. . . . . but it makes sense. :roll:
Can you tell me why they have to raise gasoline cost on a daily basis? That gas is already processed, and every company reaps millions in revenue.
Can you tell me why they have to raise gasoline cost on a daily basis? That gas is already processed, and every company reaps millions in revenue.
#13
Super Member
Join Date: Dec 2008
Location: Tulsa, Oklahoma
Posts: 4,413
Originally Posted by MTS
Originally Posted by bearisgray
So - in order to buy new inventory - the old/existing inventory has to be priced high enough in order to pay for the cost of the new inventory?
Sorry, gaevren, that is not a valid argument.
In other circumstances, it might even be called price gouging.
#14
Senior Member
Join Date: Apr 2011
Location: South Dakota
Posts: 662
Originally Posted by Grama Lehr
Sorry to say. . . . . but it makes sense. :roll:
Can you tell me why they have to raise gasoline cost on a daily basis? That gas is already processed, and every company reaps millions in revenue.
Can you tell me why they have to raise gasoline cost on a daily basis? That gas is already processed, and every company reaps millions in revenue.
I am the bookkeeper at a convenience store/gas station and I have to figure out every day how to pay the bills. I get a little tired of people thinking we are getting rich and gouging the public.
The same principle applies to gas or any product a store is selling as applies to the cost of fabric explained in the OP.
ETA: And we have to pay for a load of gas when we get it. If we sold the last tank for $10,000 and the next load is $12,000, where do you get the other $2,000? It is the same for the fabric stores.
#15
Super Member
Join Date: Feb 2011
Location: DC metro area
Posts: 1,286
I'm not sure it's price gouging so much as small stores can't afford to offer the bigger discounts that on line stores can. That don't have the volume of sales that's required to get the better prices for products.
LQS prices have always been higher then other stores, but it serves a nitch. Some people like the higher quality fabrics that they can go to the store, feel and fondle. Other people prefer to trust a manufacturer and just go with the best price.
I personally rarely shop my LQS because of price also. I hit JoAnn's with my coupons.
LQS prices have always been higher then other stores, but it serves a nitch. Some people like the higher quality fabrics that they can go to the store, feel and fondle. Other people prefer to trust a manufacturer and just go with the best price.
I personally rarely shop my LQS because of price also. I hit JoAnn's with my coupons.
#16
Super Member
Join Date: Jul 2010
Posts: 1,789
I work for a "mom and pop" type business. Our sales are right up where they were last year at this time. However, their costs for supplies have increased tremendously. small business owners are between a rock and a hard place. raising prices will lose some customers and yet if they don't, they can't afford to restock.
#17
I don't believe that. It is a rip off when they raise the price on every bolt in the store. And I know a LQS that does that. I call it gouging the customers. Therefore, I no longer shop there.
#18
Originally Posted by Barb44
And the last statistics I saw said that major oil companies had a net profit of less than 5%.
I am the bookkeeper at a convenience store/gas station and I have to figure out every day how to pay the bills. I get a little tired of people thinking we are getting rich and gouging the public.
The same principle applies to gas or any product a store is selling as applies to the cost of fabric explained in the OP.
I am the bookkeeper at a convenience store/gas station and I have to figure out every day how to pay the bills. I get a little tired of people thinking we are getting rich and gouging the public.
The same principle applies to gas or any product a store is selling as applies to the cost of fabric explained in the OP.
I'm really tired of people accusing business of gouging or somehow being underhanded in their business practices when they're only trying to make a fair profit and stay in business.
Organized boycotting of a LQS for charging normal retail prices is misguided at best and unjust at worst. LQS's aren't trying to chase off customers. They're trying to pay their rent and keep people employed.
#19
Super Member
Join Date: Mar 2009
Location: Maryville, Tn
Posts: 1,786
Actually the price of gas is going down around here.
Also.. I don't mind paying the increase in fabric cost... however.. I do think there (used to at least) be a "rule or law" about changing the price obviously on a product.. if something is marked one price, you can't just draw a line through it and put a higher one on it.. I could be wrong.. heaven knows I have been before.. but it does rather irk me. Or the shelf is marked up but the bolts aren't and the clerk says.. Oh.. it will be marked up at the register... that is just SOOOOO wrong. then why not just say.. oh we'll decide what we want to charge you at the checkout.. you don't need to know the cost .. just pay it. I have had this happen at a retail shop. and rather than price gouging I think it falls under "bait and switch".
Also.. I don't mind paying the increase in fabric cost... however.. I do think there (used to at least) be a "rule or law" about changing the price obviously on a product.. if something is marked one price, you can't just draw a line through it and put a higher one on it.. I could be wrong.. heaven knows I have been before.. but it does rather irk me. Or the shelf is marked up but the bolts aren't and the clerk says.. Oh.. it will be marked up at the register... that is just SOOOOO wrong. then why not just say.. oh we'll decide what we want to charge you at the checkout.. you don't need to know the cost .. just pay it. I have had this happen at a retail shop. and rather than price gouging I think it falls under "bait and switch".
#20
Originally Posted by qbquilts
Originally Posted by bearisgray
So - in order to buy new inventory - the old/existing inventory has to be priced high enough in order to pay for the cost of the new inventory?
Yes. Whenever you are selling inventory that you plan on restocking (either the specific item or the general class it belongs to), you need to price it at an amount that will allow you to replace the inventory.
Think about rising quilt store costs like your insurance. If you needed to use your homeowner's insurance because your 40 year-old house was badly damaged in a storm, would you want the insurance to cover the amount you paid for it at time of purchase (40 years ago) or the amount that it now costs to repair the damage?
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