Raising prices?

I should have added i base my price on the dollar as that is the most common currency amongst sl'ers ( being mainly american people in there )

I personally live in Italy - so i have to convert my dollars to Euro - so yes i get hit with that exhange rate as well

( mental reminder when http requests finally goes live - make vendor which links to an RL exchange index as well as the Lindex - then lets see what the real prices are in terms of where i live )

i barely sell any products in SL so i don't concern myself with changing the prices on those. i do however sell a building service and cost of my services is indexed in CAD. i do adjust my price according to currency exchanges.


i would say that it is only important to raise the prices on new products, the ones for which the time and creativity investment has not yet been recouped.

personally, i see prices going up. even players who claim they aren't raising prices are in fact raising prices. they just aren't raising prices on old content, only new products.

I'm just wondering something with this new price on this Lindex? Is this just a result of natural inflation? Is it just meant to be that things naturally rise in price, businesses make more, and then sellers need more to pay for things?

Bottom line is that the $L would not be slowing becoming worth less and less if the people who sell $L did not keep trying to undercut everyone in front of them by selling for less. The people who buy $L pay whatever the going rate is....they dont have much of a choice....so they AREN'T the ones making the $US payout lower for the seller....OTHER SELLERS are! I'm a BIT heated on this subject because if everyone who is selling stayed around the same amount of $L per USD then the $L would stablize. If 10 of us are selling at $250L per $1US then the 11th person should come in and sell for the same price, NOT think "oh, I want my money NOW, I don't want to wait for their money to sell so I'll put mine for $251L" and then the 12th at $252L and so on and so on until you get to where we are at $306L per USD. It's pretty sad when the people selling the $L are the ones who are devaluing it.

OK! My rant is over!

I'd be interested to hear how many of those who went into panic mode and raised their prices because of the "fall" of the value of the L$ are now leaving their prices high, now that the L$ value is back down to L$305, instead of reverting back to the previous prices.

Lewis

If it is true that supply is greater than demand.

And the exchange rate were fixed. E.g., all sellers decide to follow your advice.

Then, the amount of Linden for sale at that rate would increase over time. Because the supply is greater than demand.

And if the sale of Linden is first-come-first-served, then the amount of time that you have to wait to sell your Linden would also increase over time.

At some point, the amount of time required to sell your Linden would be greater than you could tolerate and you would be forced to accept a lower return in order to speed up the process.

So, if sellers showed more restraint, it might slow down the decline, but it could not reverse the trend.

Of course, this all depends on the assumption that supply is greater than demand.

Ive got my current projects prises alrwady planned, and not going by any raised prices, but what I remember of similiar items from over a month ago. Always an exception to the rule.

When the price went to 316 I raised my prices to 310.

Now it is below 310 I have dropped my prices to 300.

(if it goes above 310 again I shall raise them back to 310 - I am not going to follow the index on a point by point basis, but will try and keep within sight of it)

Now the question is will people pay a designer fair value or turn to a cheap rip-off to save a penny?

Lets ask Walmart. (#2 on fortune 500 btw)

Unlike Jonas' answer the answer to this question IMO is YES. Some will choose to have the higher quality product, some will choose to save a penny.

in SL people earn acclaim based on imagination and ingenuity, not offering bargains.

when you can reliably find nice items at an original creators place for 300 L$ as opposed to bargain hunting for a knock of to save 100 L$ (30 cents), most likely you will prefer to buy the original to

a> enjoy your shopping experience,
b> not waste your time,
c> reward the true creator.

Less than 1% of the people who raised their prices dropped them, thats my guess at least.

Its a good point, people want to argue that they just want their fair share of what their product is worth, will these same people lower their prices?

When a shop offers a variety of products, they will show up in more finds, and will run across products and more likely impulse buy. Don't think of me as the main products, but as those short gondolas by the register people grabs things from impulsively.

You mean the guy with a briefcase in NYC?

More like the candy bars at checkout. About the same pricing, USD wise too.

No more like the suitcase. what your trying to compare to is extra cheapies to bring the store owner a bit of extra money from impulse buys. You're goal is to recreate designers items and under cut them. You compare better to the guy selling "designer" sunglasses on NYC street corners than a legit additional revenue source for the designers you're copying.

You have to get inspiration somwhere. Besides, its not an -exact- copy, just an alternative. My groups on twists done on them and all. Its an alternative, like you'd find 'Great Value' products next to 'Nestle' on the shelf.

If it was an -exact- ripoff, yes the suitcase would apply. But it doesn't.

How close to an exact copy. And do you put the originals next to your copies with a chance for buyers to pick the original and pay the person with the idea?

If they want to pay me for the space in my shop I'll be glad to let them set theit items for sale there.

Edit: for how close to an exact match, look up my shop, and looka t the products. Gazebos and fountains have been done before, murals included, but see how -we- did it. Come on lighting in 1.91! I want my pet project out and need the newer lighting system.

Some people innovate. Others can only duplicate. OF COURSE the origional innovation wouldn't be available next to the ripoff. Who would pick duplication over innovation?

What research is this guess based on? Or, is it a totally random assumption on your part? Not trying to be mean spirited or anything, just curious as to what research you've done to back up claims that the whole world is price gouging. Cyberland will be indexing leasing prices against LindeX on almost a daily basis.

If the L$ is worth more when your current payment is due than it was when you made your last payment, your L$ denominated bill will decrease. We're only interested in what's fair for everyone. We would index the mainland sales as frequently, but it's hard to do daily. I jump around and change mainland prices as often as possible though. I'm really looking forward to our new leasing business where it'll just be a button click (or maybe even automated later).