I have been a street vendor for a little over a month by now, and all of vendors agree with me on my “$20 economy theory.” People feel frightened if something costs more than $20. So the vendors with items less than $20 somehow make profit, though they may wish to make more profit, and vendors whose minimum prices are over $50 can hardly sell their merchandise. So I call it “twenty dollar economy.”
Reducing a price from $300 down to $150 wouldn’t help at all, and if you think dropping it to $100 would help, you are wrong. People just don’t buy something unless it’s $20 or less! If you don’t believe me, get a booth (do it legally) and try selling whatever your merchandises are. Be a street vendor in a wealthy neighborhood for a few days, then you’ll give me a credit for naming the current retail situation so well.
As far as I am concerned, twenty dollar economy is real and is happening right now. I have all the vendor friends who back up my twenty dollar economy by saying “You’re absolutely right.” If one wants to do well in this twenty dollar economy, selling merchandises priced less than $20 is crucial.
So I came up with $20 merchandise business model. Now I make very attractive and uplifting artworks with left over materials and sell them at a green market. How much is it each? TWENTY DOLLARS!
Monday, January 12, 2009
Twenty Dollar Economy
I have been a street vendor for a little over a month by now, and all of vendors agree with me on my “$20 economy theory.” People feel frightened if something costs more than $20. So the vendors with items less than $20 somehow make profit, though they may wish to make more profit, and vendors whose minimum prices are over $50 can hardly sell their merchandise. So I call it “twenty dollar economy.”
Reducing a price from $300 down to $150 wouldn’t help at all, and if you think dropping it to $100 would help, you are wrong. People just don’t buy something unless it’s $20 or less! If you don’t believe me, get a booth (do it legally) and try selling whatever your merchandises are. Be a street vendor in a wealthy neighborhood for a few days, then you’ll give me a credit for naming the current retail situation so well.
As far as I am concerned, twenty dollar economy is real and is happening right now. I have all the vendor friends who back up my twenty dollar economy by saying “You’re absolutely right.” If one wants to do well in this twenty dollar economy, selling merchandises priced less than $20 is crucial.
So I came up with $20 merchandise business model. Now I make very attractive and uplifting artworks with left over materials and sell them at a green market. How much is it each? TWENTY DOLLARS!
