Entrepreneur magazine has a short-but-thorough primer up on the art of setting prices for your products during a recession. Although it doesn’t mention nurseries specifically, all of the information is applicable, and a few of the points are particularly germane. Specifically:
- Are you offering an affordable luxury? During a recession, most consumers may still be willing to indulge a little.
- Are you offering something that can help your customers weather the recession? If so, does your marketing and sales message drive this point home? Then you may be able to price accordingly. If not, you may need to drop prices.
The first point applies to all nursery products and the second applies particularly to edibles. There’s a lot more — check it out.
