Setting a PRICE for cosmetic products is no small task for a brand manager or a beauty founder. Beauty product pricing can feel overwhelming-especially when there’s uncertainty around consumers and what the market will bear. There are just so many questions:
- How much should products cost online?
- Should the prices be the same in-store?
- Should pricing include shipping…and samples?
In this episode we look at 3 key areas of cosmetic pricing strategy-to set your brand up for success at launch! #TheGoldnEffect
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-----Contents of the video-------------------
0:00 Intro: Pricing strategy for a cosmetic product
3:28 Know your budget numbers
6:29 Benchmark Competitor Products & the Sales Channels
6:00 Who is Responsible for What When Labelling a Beauty Product
9:12 Do Price Test at Launch
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-----About Goldn-------------------
Goldn was founded in 2021 with a straightforward mission: To create the simplest, most collaborative product-building platform for formulation-driven industries. Starting with personal care, the Goldn goal is to provide all the tools to enable beauty brands to collaborate better with partners. At Goldn, we value collaboration, optimism, humility, integrity, and directness. We bring a dynamic, passionate attitude to our work-and to our interactions within our team and with the community. We want cosmetic product builders to have the same straightforward, positive experience that we foster on our own.
Beauty Brands Get Started on the Goldn Product Builder for FREE cos.goldn.com/user/signup
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