Monday, June 23, 2008

Survey

As the weather gets warmer, our world gets crazier! China took a beating by a prolonged winter storm, then a deadly earthquake, now flooding in the south, most of the tea growing regions are affected during this spring. As we all know or suspect, price of tea will go up, Dan Cong prices are already up 25 to 35% before the flood, I'm afraid to make that phone call after the flood.

I think we vendors are most interested in is buyer's preference, especially with the spiralling down turn of US economy, are consumers willing to

1, spend the same amount of money as previous year for lesser quantity of same quality?
2, spend the same amount of money as previous year for same quantity of less quality?
3, spend more money for same quantity and same quality of tea?
4, spend more money for better quality regardless of quantity?
5, spend less money for less quantity of same quality?
6, spend less money for same quantity of less quality tea?

Wish I knew the answers to be more business savvy. I'd appreciate it greatly if you would share your thoughts on this. :)

3 comments:

Stacey said...

#1, as long as MY business stays steady = income to spend on "luxuries" like high quality specialty teas.

beecrofter said...

I tend to purchase smaller quantities but go higher in percieved quality but have always been an atypical consumer.

So perhaps you should make up smaller packages of the best teas for your clients with an emphasis on the quality of the tea instead. To appeal to a higher level of cost consciousness emphasize the cost per serving as even expensive teas seen less so when cost per serving is shown.

All of that considered I have yet to revise the prices of my own shop upwards to reflect increasing costs. ( sharpening service)

Tom, who pretty much spent his economic stimulus check in Kunming

Katie said...

I could agree with either 1 or 5.

The world of tea is so vast, I try to experience as many teas as possible. Giving up quality is NEVER an option, and I would rather pay the same amount/less for less tea rather than have to fork over more cash.

Can't say I'm necessarily the norm, though.