As local florist in Bangalore, we frequently receive enquiries on how we have priced our flower arrangements?
One of the primary factors taken into consideration is the prevailing ‘Market Conditions’ and our ‘Competitor Pricing’, which determines our pricing and how we set our prices is the most important management decisions that we make as an enterprise.
The other thing which has to be noted is that, a tremendous amount of work goes in to running a flower shop, it would be inappropriate to under price our products and not be able to make ends meet. On the other hand, over pricing and putting ourself out of the market before we even begin would also prove to be disastrous. A pricing strategy can be a complicated thing in a retail flower shop. This is because there are perishable items and skilled labor to be factored in along with the raw cost of goods.
As retail florists and also being an online florists in Bangalore, we share how Bangalore Blooms prices its products for Flower Delivery in Bangalore. There are many pricing formulas. We understand what our overhead costs are and we know what the market demands in addition to the shipment of your orders.
Bangalore Blooms has stuck a fine balance between the two and follows a common formula used in the industry:
- Deciding on our ‘Mark Up’ for Fresh Flowers and the Hard Goods
- Our labor charges
- Pricing point. vs. Design point
- Operational Expenses (Both Online & Retail)
- Taxes and
- Shipment or Delivery Charges
It needs to be understood that, there are two different ways that a design might need to be priced. One is from a specific price point, where we have a price point and work backwards to determine the final price. The second way is where we start with design, creating it first and then determine the retail price upon it’s completion. The best formula that we found for us for this, is reciprocal pricing.
For Ex: Pricing a ‘Bouquet Delivery in Bangalore’ depends on many aspects such as the type of flower, with or without fillers, greens, type of sleeve, ribbon and most of all it will have a higher price if the customer would want to personalizing the bouquet. The door delivery of floweres in Bangalore would also be factored in our pricing.
The advantage for any customer who Buys Flowers or Orders a Cake in Bangalore from a local florist are listed below,
- Cost Advantage & Discounts – Always end up in getting the Best Price
- Quality of the Flowers / Cakes Delivery in Bangalore – Procured locally & Baked Inhouse
- Advantage of Being Local – Knows the city, language, demand & supply etc.,
- Accountability – track your Order fulfillment and get timely service / delivery of flowers in Bangalore
It is not difficult but over the years we have learnt you have to be careful not pricing to high or too low… what is important is that our Flower Bouquets & Flower Arrangements in Bangalore have become unique. Bangalore Blooms provides a seamless delivery experience and you can ‘Send Flowers to Bangalore‘ or ‘Order Cakes in Bangalore‘ for your loved ones.
For having been one of the oldest Online Florist in Bangalore, this indeed has been a question with no answers… the perfect ‘Catch 22‘ moment which has been haunting us till date. We are very sure that it certainly was not ignorance all these many days, well we guess it was the lack of will and ‘Us’ just wallowing in complacency – it certainly was uncritical satisfaction with our achievements all the while. 😉
Never the less and to put things in the right context, we have decided to share our thoughts/ experiences through this interactive blog. The primary driver for us to initiate blogging is the ‘Deep Faith & Trust’ our customers have reposed in our capability for all these many years. We take pride in dedicating this blog, to our loyal customers who have stood by us for all these years – thanks for having been our bedrock.
For those who have not known us, a big hello from Bangalore Blooms. We are local Florists in Bangalore and have been in existence for more than a decade. Bangalore Blooms, over the years has helped its customers send flowers to Bangalore for all occasions and events. Through this blog article our team would like to take a nostalgic trip on how ‘Sending Flowers and Cakes Online’ has substantially progressed from its humble origins through all these years. This industry as on date is not recognized by any governing body in India and continues to function in an unstructured manner. The monopoly of capitalizing on the revenues that the industry generates, resides with a few big players who are sustaining the orders that they get from the internet. Read the rest of this entry »