Spirit of the Lake Native Boutique Case Study

53 Pricing

The prices at SOTL are competitive, influenced by Tasha’s regular visits to other stores. She even offers to price-match if a customer sees the same item elsewhere for less. Feedback has been positive, and customers haven’t commented on the store being too expensive, instead appreciating the authentic origins. In her experience, price is especially not a focus for higher-end items where customers are happy to find a unique gift and do not question the price.

Figure 10 – Products at the store (CC BY-NC-ND 4.0)

Tasha prefers not to negotiate the prices she pays to artists, instead accepting what they deem appropriate for their work and supporting them. She only adds a minor margin to the art work, staying close to the price that the artists set for their work. Taking art on consignment has been a consideration, but insurance concerns have prevented it so far (e.g., who would be responsible for damage to the item while at the store?).

The store does offer discounts and specials, promoted through Facebook and on the website. In addition, Tasha sometimes includes discounts on her receipts for returning customers (e.g., 10–15% off the next purchase). Sometimes a draw for a mug or blanket can entice customers to return to the store as well.