Would you pay 50,620 Euros for a bed? (That’s over £40,000 GBP, about $78,000 USD)
Probably not. But apparently some people do. Why? What’s going on here?
I’m fascinated by pricing strategies and run workshops for creative businesses on the subject. There are different ways to decide on your pricing strategy and I’ll be writing more about them soon. Certainly, customers are often buying more than the just the bare object – they are buying into something much bigger. See What are you selling, really?
In the case of a Hastens bed, you are invited to buy into the story of a small family firm in Sweden.
The advert asks “Who would spend 50,620 Euros on a bed?” It continues “Most people would not or could not. A select few could and would…”
Are you one of the select few?
I’m interested to hear from you about pricing strategies – especially about businesses in the creative industries.