A daily/weekly/monthly look at crafting, and creating a small home-based craft business.
Sunday, September 16, 2012
The Economy and Crafting
"May you live in interesting times" is an old proverb that comes to mind when I think of the current economic unrest in the world today. I try not to dwell on it much, but there are many times that the economy has forced me to re-evaluate what is happening with my crafting business.
Rising costs in gas and silver directly impacted my business. People just didn't have money to spend on the pretty necklace they found on my Etsy website or show display. The "I want that" draw that often led to spur of the moment purchases, had turned into "I'd like to have that" and eventually to "I wish I could afford that".
My business is not one of necessity. Seaglass jewelry is not an everyday, must-have item. But for someone that lives the lifestyle of using handmade items in their ever day life, they will find a way to purchase an item such as handmade soap- if only because it is better for their skin, or it's because it's eco friendly (or higher quality than many of the massed produced, chemical laden "stuff") So not every crafting business is affected the same way. Some will continue to flourish, while others face stagnating sales because of diminished purchasing power.
My sales are way down. (as in WAAAAYYY down) I did a show recently and had to invest some of my own money into my business (a QE of sorts)to be able to afford the show. You'll have to checkout my next blog installment to see if it was a wise investment... but I'll leave you with a "it was encouraging".
'til next time,