I'd like to talk about an uncomfortable subject: money. The cost of doing business has increased drastically over the past few years and believe it or not it’s been 6 years since my last price increase.
I had previously planned on rolling out a price increase in 2019, in order to cover the gradual upward slide of the costs of doing business– but back then I decided to delay it a year (price hikes are never fun) to the spring of 2020. But in March of 2020, the pandemic set in, I had to delay that move yet again to focus on more pressing matters.
I take great pride in creating our high quality jewelry right here on Martha’s Vineyard, and in our attentive service with a personal touch. In order for us to continue to offer the same level of quality and service as we have in our past 20 (wow 20!) years in business, this 2022 increase is a necessary step for my business. In the coming weeks, I will be rolling out new prices on several of the jewelry collections that we design and create.
I am making a point of giving my loyal customers some advance notice so they can plan their purchases accordingly. The pricing on some of our pieces will be increasing by just a few dollars, while others will be raised 5-15%, and some prices won’t be changing at all.
Our new pricing will help us cover many of the increased costs our business is experiencing including:
- Growing costs of purchasing and shipping our beloved beads from the Czech Republic
- Record highs for sterling silver, and gold– both essential components of our handmade jewelry
- Costs of finding alternate suppliers as supply chains continue to be disrupted
- Increased shipping costs for goods we receive and send
- Rising costs of our physical space as the real estate market has evolved
- Growing pay scales for skilled employees
If you’ve shopped with us recently you know that we continue to offer extra attentive, personalized service alongside our handmade products. We’re proud to be a woman owned local small business with a true dedication to our customers and our community. I hope you’ll continue to support us in this transition and I hope that you’ll continue to find great value in our products.
As always, I’m here if you want to reach out. I look forward to continuing to do business with you, and I hope that you’ll stop in and say hello next time you’re in the neighborhood.