Ranting about price increases

Bonnie mentioned that I have not written a blog in some time. I have decided to rant a bit about the issue of companies “shrinking” things to make up for rising prices.

Every time we go to the store, we notice the shrinking of cans, or the reduction of sizes. A half gallon of Ice cream is no longer a true half gallon. Tiny half-sized cans of hash have recently appeared on shelves. Cans of soup are about half the size they used to be. Even things like Kentucky Fried Chicken have shrunk from Broiler size pieces to Fryer size pieces, but the prices have not dropped. In many cases the smaller sizes cost more than the original size.

When our government raised the minimum wage, the cost of everything has increased; what can companies do? They either increase their prices, or reduce sizes; charging the same money for their goods.

A good example of this is fish sandwich at McDonalds. Fish sandwiches used to be fairly large and tasty. NOW, instead of a McFish, they’re a McMinnow, featuring tiny buns and a less than satisfying filet. When you pay fast food workers $20 an hour, you are forced to change things in order to be profitable.

How Inflation affects our business

In our jewelry business, even though we try to keep prices down, it is increasingly difficult. Gold, for example, is above $2,600 an ounce. When I started making jewelry, it was under $500. (OK, so I’m older). Small businesses, like ours, suffer with increases like this. Findings, stones, and beads, have also gone up.

I can either make things cheaper, by skimping on quality (like many), or maintain my quality. I could, instead of using 14k double gold fill wire, use gold fill or 10k gold, like many are doing. To the normal consumer, this would be hard to tell the difference. I could use regular Sterling Silver, instead of Tarnish Resistant Argentium Sterling. This would probably not be noticed by most.

I refuse to Compromise on the Quality of my Jewelry

Having this attitude, I realize that many consumers would rather purchase less expensive 10k gold fill, or cheap foreign made goods, made with sketchy metal.

I have many potential customers that say they are allergic to gold or Sterling Silver. Most are not allergic to these metals; they are allergic to the Nickel that is often added to cheap metal. Our wire is Nickel free, and costs more. Again, a quality issue, I refuse to compromise on.

We are not making our jewelry in China, Pakistan, or India. We are not cheaping on components or precious metals, and fight every day with inflated prices. We try to hold the line on our prices and quality. Many of our pieces of jewelry reflect prices of metal when we made the pieces, not what the current prices are. We cater to the consumers that appreciate quality at a fair price. My jewelry reflects on me. I always chose quality over cheapening.

We are thankful for our loyal customer base; customers that support American made, small businesses. We cannot compete with foreign companies that pay workers extremely low wages and/or mass produce much of the jewelry seen in department stores. All we can hope for is customers that appreciate our quality, integrity, and honestly.

I cannot, in good conscience, treat my customers to jewelry that is not up to my demanding standards. If Bonnie or I would not, proudly, wear a piece of our hand crafted jewelry, you will not see it sold at our shows, in our retail outlets, or on line. Quality is everything to us; But I still wish gold was $500 an Ounce!

Based on my insistence to keep my quality up, I find myself making fewer pendants; Instead trying to up my game by locating more scarce material (digging deep into my stash), and manufacturing better and more complicated jewelry. Overall our inventory is good, but I need the challenge of creating new pieces, that are unique and test my creativity. I’m upping my game, making more complicated Pendants, and using better quality material. I’m using more scarce, better quality. rare gemstones. Even though materials cost more, I have been able to use these rare gemstones, and charging what I paid for them a decade (or more) ago.