Rising Costs: An update
We have been under pressure from rising costs due to the pandemic for some time now. It started almost immediately and now a year and a half into the panedemic it is hitting all facets of our business. We have been holding off on raising prices for certain products in hopes that the inflationary pressure would subside.
However, it only seems to be getting worse. Everything from the packaging that our product goes into the to the wood that it is made from is continuously going up. We are doing our best to keep a lid on our prices but some products have been updated today with new pricing.
It feels like a good time to discuss our pricing strategy and to let you know we are doing what we can to absorb some of these costs for you. KROFT's pricing is all about value. We are not a high margin operation and it is not due to a lack of efficiency. Making high end furniture with solid wood takes time and is costly. Our mission is to sell direct to you in order to provide the absolutely best value possible.
This is not a strategy or some contrived business model. This is what we stand for and who we are.
That is why you may see some products selling for less than what you might expect - particularly when you look at other price points in our catalogue. Our wood hanging clothes rack used to retail at $149 CAD. Over the past two years we have been able to bring that down through purchasing and new manufacturing techniques. We are working with suppliers to lower costs all the time and we pass most of those savings onto you.
So, when you see the price of the floating nightstands, that is the lowest price that we can sell these for based on what it takes to make them as they are. We could get that price down but it would mean, cheaper drawer boxes, crappy drawer slides that won't last and less craftsmanship. Those are things we are not willing to compromise on.
Luckily we have increased volume and demand to fight the inflationary pressures that we are facing today. The point of this letter though is to just explain that every product that we sell is listed at the absolute best price we can offer to allow us to come in every day and do what we love to do. We rarely offer sales because, well, in an apples to apples comparison, everything is already really well priced.
We are always looking to provide value for you as the customer. We want you to feel good about every aspect of your purchase. We are always just looking to cover the expenses associated with selling furniture with some profit for our employees to thrive and grow on. We are always encouraged by the number of people that support local and small business. And we will always provide you with the absolute best value on all products to show our gratitude.