Fifty cents or two quarters is an afterthought, an amount of money so small, it’s probably not even worth the brain space it takes to contemplate. These statements would be true if it really was only two quarters, but what impact does it have on your business when those two quarters multiply?
Over the course of the summer 2014 season, I’ll be measuring prices, the weather, and days of week for different products at a variety of farmers’ markets in the Boston/Camberville area and surrounding suburbs. Every Tuesday, I’ll feature an interesting pricing trend, like the impact that organic certification has on prices, the weather, geography, urban vs. suburban markets, etc. Or sometimes, I’ll just show what price the same product is fetching at different (or, in some cases, the same) market.
Why am I doing this?
Because I already know anecdotally that prices for similar products vary by a significant margin, and I don’t really know why. A $.50 price increase in a product could mean 100s, if not 1000s, of dollars to a farm over the course of a season, and that’s just for one product. Imagine the impact that optimized pricing could have for sustainable farmers across an entire region.
Fifty cents may not seem like much, but it can really add up, and quickly.
Check back each Tuesday, or follow me on Twitter (@jomjessie) to see the latest pricing trends for farmers’ markets around Boston.