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Pricing Indian Clothes in USD: help needed

Discussion in 'Entrepreneurship' started by mspurohit, Dec 11, 2007.

  1. mspurohit

    mspurohit New IL'ite

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    dear friends
    i live in usa. i want to sell some party -wear chudidar. my 1 chudidar prize is RS. 2000 (Indian prize) if this itam i want to sell in us $ prize. i want to know acoording to bissness ruls & regulation what prize i should write on the chudidar. i dont have any knowladge that indian people who live in us. they how do bissness with banifit. i don't want my loss neither my costmore.
     
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  2. kalaisiva

    kalaisiva Senior IL'ite

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    Re: urgent plese reply as soon as possible.

    Hi,

    Nice to hesar dat...but having a doubt do u have only one....if it is...u an sell for $70...i dont think there is sum law for dis....
     
  3. mspurohit

    mspurohit New IL'ite

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    Re: urgent plese reply as soon as possible.

    dear friend
    thanks for reply . now i have only 4-5 itam but in future i have planing for bissness.can u give me your best wishess.
     
  4. kalaisiva

    kalaisiva Senior IL'ite

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    Re: urgent plese reply as soon as possible.

    Congrates!!!

    And u keep in touch here with us....so its very easy to sell ur stuffes through online...anyway all da very best wish to u....
     
  5. Blondie

    Blondie Bronze IL'ite

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    Hi MS,

    My suggestion will be to have a low profit margin initially until you have a good client base to sell your wares. Taking the example of your chudidar, if it cost you Rs. 2000 whole sale in india and you didn't spend much for having it shipped here, then your sale price should never be greater than equivalent dollar amount for Rs.2500 (at the exchange rate of 1$ = Rs 38 this would be 2500/38 = $65) which is a profit margin of 25% on the whole sale price. You can go lower if you operate from home and have no over head cost.

    Once you have a regular client base you can up your prices. The key is customers should never feel that they are being taken for a ride. (since most of them have visiting relatives and are aware of the cost price).
     
  6. leelal

    leelal Bronze IL'ite

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    Hi MS,

    good to know you are trying to sell chudidhars in USA. As blondie has suggested, you could look at that pricing around 65-70 USD.

    But there is another view that indian customers would have associated a perceived value to the churidhar. They may be ready to shell 10-15 $ more inclusive shipping.
    If you are very confident that your selections are very ood interms of quality, material, work, colour combinations and fitting size and bought at the best buyer/ trader's price, you could tag it close to 85-90$.
    Incase of customer's hesitation to buy it in this price, then offer discounts and settle between 75-85$.

    Even though you have not paid exclusively for shipping, you should accomodate the cost involved in travelling, selection time, risk taken to sell to a customer, you can enjoy some gain.

    HAPPY SELLING!!

    Do keep us posted how the sale went through!!
     
  7. Blondie

    Blondie Bronze IL'ite

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    Good suggestions Leela...

    But let me reiterate another marketing technique introduced by marketing giant amazon which even small vendors are adopting nowadays.........free shipping for anything that costs above 25$$ !!!

    MS will quickly build a word of mouth client base if the first few ones do percieve that they are getting a very fair deal. A markup of 25%(acquire for 2000 sell for 2500 i.e make 2000 for 4 outfits sold and if none are sold then still she has a very good bargain for her own wardrobe) on the wholesale price is quite large profit margin for a beginner with literally no over head cost.
     
  8. AnjaliD

    AnjaliD Senior IL'ite

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    First things first - create a good site first. Take good pics of your products and get the site going.
    Its very very simple now to have your own site now.
     
  9. puni88

    puni88 Moderator Staff Member IL Hall of Fame

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    Hi,
    I did this business few years back when took a break from work.
    Here is few tips :
    1. You might have to get good qualities clothes and which are popular right now in India.
    2. You might have to organize them in a closed place in order to save from dust/dirt.
    3. It is better you hang the clothes always, else u will be tired of folding them.
    4. Pricing the clothes :
    a. cost of each dress
    b. shipping cost
    c. misc cost.

    5. Don't get more clothes and waste your money, first try to start with small and experiment. (suggestion, try with tops first)
    6. Many Indians will not buy paying more here when they could get it over India for a better price. Keeping in this mind, start your business with small scale.
    7. Set your rule for exchange and return policy.

    Hope these things helps you out and let me know if you have any questions.

    ~Punitha
     
  10. puni88

    puni88 Moderator Staff Member IL Hall of Fame

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    Hi,
    couple of more tips....
    1. YOu could get some stuff for spring and many people would be in a mentality to buy new ones.
    2. YOu could have yard sale or something to promote your business.
    3. Advertise as much as possible.

    ~Punitha
     

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