anyone started raising their prices yet?

I raised mine 3 weeks ago too on the basic packages from 300 to 350L$ and no one has said anything. I looked at my competition and I seem to be about the medium to high price range. But I do have the biggest selection and choice and as Ive moved to a new 1/2 sim sized store and am paying rent each mth for it not to mention the cost in moving and building and buying new vendors for the single textures etc..its cost me 150K just to move add the mthly rent.

Sounds like I'm justifying it and i shouldnt really as at the end of the day my customers buy their L$ for a large part so bottom line is theyre getting much more L$ for their $ so shouldnt complain. But I am sure there will be those that do not even realise that and just figure even with the extra L$ they have now theyed rather go buy cheaper elsewhere.

Odd....I thought moving with the no lag issue would of doubled my sales...the amount of complaints I used to get about the old store...but no...theyre about the same....

Oh God.... *rolls eyes* this is a typical example of short sighted greed that ruins any economy.

What you gain in extra sales today as you compete with price wars you loose in the long run as the value of the L$ continues to fall as people in world buy less and less as theyre getting more items for their L$ and as the demand lessens the value falls and eventually the economy collapses....LL close the servers down because whether you choose to accept it or not LL NEED the L$ to keep a strong value or else without that RL value SL would not be as markatable...it THEN becomes another 'game' were we all play with monopoly money and then ppl dont want to pay RL cash for their land, accts so go to basic accounts.
Content creators ( who make this world ) loose motivation to create so the world becomes boring & repeatative nothing new is seen...people start looking elsewhere for their onlien kicks...etc etc etc

It all ends up like The Sims Online. ( which died because E A Games didnt add any new content to the game and players created bots that made millions of TSO dollars making teh demand far lower than the supply and the value weak no body cared anymore and moved onto There.com or Second Life )

There will always be ppl with little to no economy knowledge and only see this as a good thing for their short sighted goals without realising in the end they are the very people helping to ruin SL not just for themselves but for everyone.

People dont raise their prices for greed they raise them to try and keep the L$'s worth stable. Its those that take advatage of this by seeing the short term benefit of having an 'edge' that are greedy...but greedy fools I fear.

Ah, so, the economy has ceased to be of general intrest? Fine, fine...

That's probably why it's in such a mess then.

Lilybeth, your new store was much better, in terms of lag, the last time I visited. Something about the old location had really gotten bad.

People's prices affect how MUCH of something I buy. If texture prices are high, I tend to be more selective and wonder whether I really need that bundle or not. (On singles, I'm less selective.)

When prices are low, I tend to buy many more, perhaps even their whole range of, say, foundation textures.

I think this tendency is common to others as well. If prices are low, we treat ourselves to more. If they are high, we count ourselves lucky to get just one of whatever it is. Spending, in other words, about the same amount of money.

So it all kind of comes out in the wash. Everybody has to set their own prices to try to hit the best balance.

coco

I know that many business owners in SL are struggling with the decision to raise prices. Mainly it has to do with this mentality that people are getting robbed if the prices go up with statements like, "I'll just take my L$ elsewhere greedy!!" It seems like there's a lack of understanding.

For instance if you purchased a shirt for L$100 a few months back it was around probably $0.67 and if you bought that same shirt today at L$100 it would be around $0.60. It's not being cheated for someone to raise the price of that shirt to L$120 to make up for that loss. Am I wrong here or am I missing something?

Nobody wants to lose their customers but surely people don't expect a business to just stand there and watch the L$ value fall and never change a thing. Unless they have absolutely no need for any kind of profit, something will eventually have to change.

If you will pardon my offering opinion: I think it is greed, on the part of those threatening to "take L$ elsewhere" and force value of people work down.

If you need raise prices to maintain the value of your work then do so, I say. If your work was worth that much a month ago it worth that now. In the end I am still paying the same life-money amount for it, and therefor the price not go up!

This sense of entitlement I detect in ones laughing at struggling of merchants is despicable.

Thank you!!!

Not yet, but the value change will be a consideration in setting prices for new products.

Musuko.

Then LL can find a way to stop the undercutting. Some of us honestly don't care about the exchange value and 10L is still 10L to us. Its not shortsighted greeed, its philosophical difference. Just because we think differently from you when setting our prices does not make us 'evil.'

I feel the right price hasn't been reached for the linden dollar..when player buy lindens en masse, enough to match supply of sellers, THEN you've found its value. Until then its OVER valued.

I lowered my prices awhile ago and now sell significantly more product - ended up almost doubling my income.

Assuming higher prices = more income might not always follow unless you have already tried a few things to work out a "market" price for your goods?

Funny you'd say so. Since as far as economy goes, it's generally price-fixing and lack of price competition that's considered harmful.


This is rather nonsensical. By your own logic, applying the reverse of this reasoning you could ensure SL economy to be strongest if you effectively priced everything out of reach of everyone. As doing this would make the L$ highly valuable, since people would be getting less and less items for their L$ ... which (and here's where this logic triples over its own feet) somehow would increase the demand, and force customers to buy more and more.

The reason why this doesnt' work? Buying power doesn't affect demand in such straightforward manner as you presume. Especially if it's virtual luxury goods.

Not yet but I'm charging to reply to posts at $1L/letter that will be $50L please. still working on price of punctuations update to be posted - spellchecking may cost extra if market will bear it

I raised Mall rent 0.5L per prim
I don't feel right raising my prices on product already at a set price.
my new stuff won't be on the same scale.

so yes in a way I raised prices but still trying to stay fair about how I do it

"I lowered my prices awhile ago and now sell significantly more product - ended up almost doubling my income."

This only works if your products have widespread appeal (like Coca Cola). It doesn't work if you have a limited, niche market (like wheelchair polish).

Musuko.

Nope - haven't raised my prices - don't know anyone else who has either.

*if* I were to the end user would get something in return, better performance, new features, something.

I won't simply go around and mark up products.

There is a difference between "a sense of entitlement" and "not buying it otherwise".

My Premium fee at the moment gets me a stipend and the right to own land. It does not guarantee that I will enjoy SL. If I did not enjoy SL, I would stop paying Premium. That does not mean that I'm claiming to be "entitled" to enjoy SL because I paid my Premium fee.

If someone decides not to buy your stuff because you added L$20 to the price then it doesn't mean they're "entitled", it just means that.. they don't want to buy it at that price.

I have had to raise rent on my Islands for those that pay in L