Why We're Raising Prices: A Necessary Step to Sustain Our Quality and Business
Running a small business is not just about passion; it's about navigating a challenging landscape that constantly shifts due to external factors. As a proud purveyor of high-quality leather goods, including belts and wallets crafted from premium hides, we want to maintain the exceptional standards you've come to expect from us. However, recent economic pressures have forced us to make the difficult decision to raise our prices on certain higher cost items beginning Sept 1, 2024. Here's why this change is necessary:
The Impact of Inflation
Inflation has been a pervasive issue, affecting virtually every industry. The cost of everything from raw materials to transportation has surged. For a small business like ours, these increased costs cannot be easily absorbed without compromising quality. To continue providing you with the best leather goods, we must adjust our prices to reflect these changes.
Supply Chain Challenges
The global supply chain has been under tremendous strain. Material shortages, particularly in high-quality leather, have become increasingly common. This scarcity drives up the cost of our raw materials, making it more expensive to produce the goods we pride ourselves on. Larger corporations may have the leverage to negotiate better prices or absorb these costs, but as a small business, we face a more difficult reality.
Rising Transportation Costs
Transporting goods has also become significantly more expensive. Fuel prices have spiked, and shipping delays have become the norm, further increasing costs. These logistical challenges add another layer of expense that we must factor into our pricing to ensure our products reach you without compromise.
Price Gouging from Suppliers
Unfortunately, not all suppliers have responded to these challenges fairly. We've encountered arbitrary price hikes that feel more like price gouging than adjustments based on genuine cost increases. This practice puts additional pressure on our business, making it even more challenging to keep our prices stable without affecting the quality of our products.
Competing Against Giants
We are a small business striving to compete in a market dominated by large corporations with vast resources. These companies can afford to sell at lower prices, but they often do so at the cost of quality. We refuse to take shortcuts in our craftsmanship. Our commitment to using the best materials and maintaining the highest standards is unwavering, but it does mean our products cost more to produce.
A Commitment to Quality and Sustainability
Raising prices is never an easy decision, but it's one that allows us to sustain our business and continue offering you the best. We believe in transparency, and we want you to know that these adjustments are necessary to keep delivering the high-quality leather goods you love.
We deeply appreciate your continued support and understanding as we navigate these challenging times together. Your trust in us is something we don't take lightly, and we are committed to ensuring that every product you purchase from us is worth every penny.
Thank you for being part of our journey.
Greg