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is economic climate effecting your business?

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  • is economic climate effecting your business?

    As someone who is considering starting a second income business from craft, I would be interested to hear from experienced craft sellers how the present economic situation is effecting your sales. With the dramatic increase in the basic cost of living over the past several months, leaving the average person with less money to spend on non-essentials, are people more reluctant to spend money on hand crafted items? If so can anybody offer me advice on how to overcome this.

  • #2
    Just speaking from personal experience.. I found that bsiness is actually picking up but that might be down to my own efforts rather than a general trend.
    I thnk the biggest impact i've noticed is that people are now spending less often but when they do they spend a bit more ..considered buying.
    I think the best thing to do in order to avoid being 'crunched' is to offer something that's unique or superior in terms of quality. Don't expect to open in a niche that's over saturated and expect it to be a roaring success.
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    • #3
      I agree with GK - I'm doing well - better than I ever have!


      • #4
        Have to agree with GK too. When people want something special they are prepared to pay a premium for something different.

        Our business has just taken off after more than 2 years of struggling. We've got a more prominent position on the market but we honestly believe that the reason we're doing well is because customers can't get the majority of our stuff anywhere else because they're made by us. This we are often told by our customers.

        Only today an oriental looking sales rep came and had a good look around before approaching us and saying "I know this is a long shot because you have some very different lines but would you be interested in buying ....." and he showed us a tray full of huge diamante bling rings. He knew what the answer was before we even opened our mouth.

        The key word was different - we're the only traders on the market selling gemstones, crystals & unique jewellery. (Until some greedy *&^$£&* looks and thinks, hey I can make some money doing that!)

        We also get a lot of tourists on the market, many call in on their way home from the lake district and they are amazed at our prices after going into the shops up there.

        Go for something unique and you have a chance but don't think that its all plain sailing cos it just aint!

        Step-daughter's website selling hand dyed sock yarns

        ~ * ~ * ~ Of all the things I've ever lost, I miss my mind the most! ~ * ~ * ~


        • #5
          My business is really picking up too, I sell jewellery making items & I wondered if it's because more people are making their own stuff, rather than buying off the high street, or, making items to sell to get some extra income. I also try to offer good customer service and value for money but whatever the reason, I'm not complaining

          "One must have chaos in oneself in order to give birth to a dancing star."


          • #6
            Ive had a really good month and i've taken the same amount of money up to now (since april) than i did in the period upto november last year. I think its down to going out and selling at more craft fairs. Getting your name out and about really helps. I am also thinking about doing my crafts as a serious second income with a view to doing it full time, whenever that may be.

            Twitter @suecreative


            • #7
              I have to admit I am the same this year but it isn't at craft fairs I am only attending one or two this year because I haven't got time. The website has really really been busy so I haven't had time to attend any fairs let alone make stock to take along.

              I have had so much repeat custom and recommendations and I have to agree if you are making a quality product people are more likely to come back - even if it costs that bit more. Of course there are a lot of people out there who don't care about quality and are quite happy to by the tat at the local Asda or Tesco but luckily there are some people out there who appreciate quality!!



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              • #8
                My mother's charity is gifted a stall every year at Hickstead, an international horse show...the footfall there is incredible and my mother lets me display some of my cards on her stall in return for a percentage going to her charity, which is fair enough.

                Anyhow, this year she did well, but I did appallingly...over 4 days I sold 2 cards. That's my worst year *ever*, especially as one of those cards went to a woman who is a repeat customer and buys at least one card from me every year.

                Good thing I don't have to pay for a stall here, as the one where we are every year costs around £600-£800 for the 4 days.

                Glad to hear everyone else is doing well, though! It may just be something I'm doing wrong, although nothing was different from previous years :S


                • #9
                  To be honest I think the media are making a lot of hype of the credit crunch. I don't think it affects as many people as they want us to believe. Statistics showed retail sales rose by 3.5% in May!

                  I've not seen any noticeable changes.
                  Bead Shop, 91 Liverpool Road, Penwortham, Preston, PR1 0QB, Lancashire. Mon-Fri 10am-5pm, Sat 10am-4pm, Sunday 11am-3pm.