“But wait, your panties only cost you a few dollars, they shouldn’t cost me that much to buy from you.”
I’ve seen this kind of comment come up a few times and so it’s worth talking about.
First off, how much my merchandise cost me to buy is not entirely relevant. I mean, it is, but that isn’t the only determining factor in my pricing.
Let’s start with something equally valid. How much does an iPhone cost to make compared to how much it costs you to buy?
How much does a Ferrari cost to make compared to how much it costs you to buy?
How much does a loaf of fucking bread cost compared to how much it costs you to buy?
The first example is a product that is highly valuable because of it’s functionality. The second, for the prestige. The third for the convenience of not having to bake your own fucking bread. I’m sure we can agree, there’s different value points in the examples I gave you.
And yes, the cost of those items also includes the cost of overheads for the company.
And perhaps you’re asking yourself what possible overheads do panty sellers have?
Let me answer that here and say, probably more than you think.
Most sellers I know are on a platform of some kind that asks for a monthly subscription.
So there’s that.
Then there’s time and energy and effort that goes into your advertising and marketing. Those pictures don’t take themselves.
There’s a great deal of time goes into selling. Buyers who think sellers just sit around and wait for messages and orders to come in are very mistaken. Sellers can spend on average 4-8 hours per day on selling-related tasks.
Did someone mention taxes?
Whether a seller decides to pay taxes on her income or not, this is a consideration that should be thought through and this is an additional cost.
Your time is clearly valuable and so there’s that, especially when you are doing more than just wearing panties. Additional time and energy is required for special ‘add ons’ for customers.
But forget all that for a moment.
In the world today, there’s generally two ways to price a product.
Cost-plus pricing involves adding a mark-up percentage to your costs; this obviously varies between products, businesses and sectors.
Value-based pricing is determined by how much value your customers attach to your product.
And for me, and likely most sellers, it’s a VALUE-BASED pricing system we are adopting.
Currently, the market value price of a pair of worn panties ranges between $20-$30 per pair. On average.
That is how much value the market currently has placed on this item.
Of course, there are outliers on either side of those numbers and yes, prices changes can and will fluctuate with the market. That’s reality.
What’s interesting however, is that people (buyers and sellers) are different and value things differently.
As a seller, your target market should be customers who value your product because they value what you have to offer. You should be pricing for those customers. If you want to reach any old Tom, Dick or Harry, you may want to lower your price to reach a broader range of potential buyers.
That can bring its own challenges.
It really comes down to you.
But the next time a guy tells you that you only paid a few dollars for your item and therefore you shouldn’t be charging what you’re charging, you can tell him about value-based pricing. 😉
If you want to get down and dirty with your panty biz, I’ve just launched the 7 Day Sales Challenge. This is for you if you’re ready to start running your panty side hustle like an actual business AND combine that with some mindset shifts to really help you hone in on your panty prowess.