Im starting to sell my honey direct via local markets/fleas in a large market urban area. I have high end packaging and positioning it as a super-local (hives within 2 blocks of where I'm selling) premium product. My area has a lot of crunchy yuppies who would sign up to the idea and have disposable income.
Anyone sell in/near Manhattan or an other large city? What pricing do people bear?
Here is what I'm thinking..
16oz (1lb) $28
My reasoning is: there is a popular store in the area that sells all kinds of honey products and rare honey from across the world. They sell raw honey from the general area for $12/22/38 for 8/16/32oz. My honey is way more local and sold directly from the beekeeper shortly after it's harvested, therefore I added a premium on top of their pricing.
I think that if you are comparing it to your local market and are providing a product that no one else can provide (super-local), then sell it for as much as you can. if anyone feels that it's too high, then they don't have to buy it.
Last edited by HarryVanderpool; 09-29-2016 at 07:43 PM.
Reason: excess quoting
I have been very happy to get $13 for a pint and $20 for a quart selling in Queens on Long Island. If you were to sell a quart, would you want $70?
It sounds as though you have an idea that will provide a bit of a spectacle and a very unusual 'finishing touch' to anyone who purchases from you. As has been commented, people are free to keep their money in their wallet.
have you ever sold honey to the public?
how much honey do you produce?
First time selling to the public
I have 2 hives and likely 3 next year. Wont ever have more than that. Trying to get as much as I can for what I have rather than a low-cost volume business. Just trying to see if my prices are crazy or possible. Much easier to lower prices than increase them
In Boston you may be able to get those prices (things are stupid crazy expensive there). One thing to look at is what are other honey producers at farmers markets pricing their honey at? This doesn't mean that you can't get more if you can differentiate your product (bottle/label/story/etc) but it could be a challenge. If your bottles are different size/shapes than your competition, it will make it more difficult for a consumer to compare.
Smaller bottles at higher margin will most likely be your best bet. People going to a farmers market do a lot of impulse buying and you want to determine what is that dollar level that a large population will impulse buy at. It might be $10 or $15.
Your prices sound crazy to other beekeepers. My grandfather would keep the price of the sweet corn we sold to what he thought was reasonable. A dozen ears of sweet corn is not as valuable to a man with 20 acres of sweet corn as to a man with no sweet corn.
It is always easier to lower prices than raise them. If you sell out fast your price is too low.
my understanding of sales, you just priced yourself out of the market.
that's taxed, those are amazon prime prices.
never seen honey more than $20/qt.
good luck, you will loose your market the first time you set up to sell,
cause the next time they see you they will walk on by.
when they see your lowered prices after the first try, people will question on quality
I am local to Boston, the average price we see along the route 93 corridor into southern New Hampshire for (real) local honey is approximately $10-14/lb retail, observed as we comparison shop the regional farmers markets / fairs / specialty stores. We typically sell in the exact middle of this range without any trouble at all, with certain types of events/locations pushing us towards the top end a few times per year.
I do have a friend who sells at a couple of locations in downtown Boston, at a farmers market and some other affluent area retail type setting, and she gets $16/lb for her product packaged in the typical classic Queenline glass jars with white plastic top. The caveat here is that she doesn't do much volume, but there are reportedly some number of buyers at $16/lb if price is what you are focused on.
I cannot imagine there are many buyers at $25 to 28/lb, even at prime locations like the SoWa Open Market / New England Open Market in Boston's suddenly trendy South End, but more power to you if you manage to find them!
I guess some here haven't dealt with the urban bohemian crowd or the urban real food/local food crowd.
Positioned properly, marketed properly, packaged properly, artisanal local small batch hive numbered and dated jars of honey
can fetch $25/lb. Some already sell their harvest (300-400 lbs) at these prices. Crazy? maybe. But it's happening.
This market ain't Amazon Prime.