How should I price my products?Last Updated: March 18, 2019
Creating a speciality fine food or drink product is all about offering an experience. When you sell at Todelli the pricing belongs entirely to you. Below are a few tips to help you with it:
Follow our basic pricing strategy to get started!
Consider the Market:
Whilst it is, of course, important to price your products on their own merit, it is incredibly important to consider what's going on in the world of fine food around you:
- Consider the pricing of other food or drink products that are similar to yours by producers who have experienced similar professional success
- Compare your products in terms of size, type, origin.
- Whilst it's easy to focus in on your area of the food product market, don't make that focus too narrow - be aware of how others are pricing their products, even if they bear no resemblance to yours. Such knowledge as this is an indicator of the direction that the broader fine food product market may be directed.
- Think objectively about your product and where it lies in the grand scheme of things. But think objectively - perhaps invite a Chef from within the Todelli platform to get to know your products, sample them and ask them for their feedback. You are looking for an objective valuation.
Other factors to consider:
- Exhibiting success and other accomplishments in the fine food product world
- How long you have been selling for
- Further costs, including distributors commissions, need also to be taken into account.
- Can you justify the price? Can you break it down and explain it to another person? If not, it might make sense to review your pricing.
- Please also make sure that your pricing is consistent across multiple online & offline channels. Inconsistency in pricing not only decreases your brand's trust towards but also Todelli's as a whole. We will be constantly reviewing our products to ensure that they follow best-practices and we might suggest an iteration to your pricing if it appears differently on other resources.