2015 … very challenging, but a great year.
2015 Christmas was actually fantastic, and my inventory levels are finally where they need to be on everything.
I introduced a white-white powder coat finish to all my metal / US Carbon Steel products in 2015 with great success. Adding white is a decision I made due to customer requests I have had over the years mainly for girls and teens rooms but lately I have been hearing from women as well who have carrara marble and white-white dressing rooms who would prefer white over the Satin Nickel Silver. White was my 4th finish in addition to the current Black, Satin Nickel Silver and Rubbed Bronze for all our metal jewelry organizers, earring holders, bracelet racks and necklace stands.
I also brought back 3 colors for my Polycarbonate Acrylic Earring Angels, Pink, Purple and Blue these are in addition to the Clear, Frosted and White.
The money: Labor, manufacturing and powder coat costs, selling costs, insurance and freight have gone up 16% to 25% over last 2 years.
I really had no choice but to increase pricing on some products and to my surprise most customers have been willing to pay the increase because of the extremely high quality product I provide. I love my manufacturing partners and they are so important to me and my success. They are also feeling the still active recession that has not yet ended and in some ways has actually gotten worse since 2012. Most small business owners I know say they are also dealing with the cost of doing business increasing exponentially and jobs being shipped out of the country. What is so odd to me is that most of the media and politicians just ignore it when the country is hurting in almost every sector, I digress.
Anyway, I am considered retiring a few products over the past year because the cost to make them, receive them, ship them and sell them went up so much. My loyal customers are the best and I am blessed to have them!