Everyone seems to be talking about it, the cost of building materials. They're going up significantly, for many common products more than doubling. It had been a month or so since I went to the plywood distributer so I wasn't sure how it would affect me. I use a higher grade plywood than builders do, one used by cabinetmakers and other furniture builders, so I wasn't sure if it would be affected by the building boom. Today I found out that it is. My price doubled from what I paid a month ago. Doubled.
Now, material is only one part of the picture when it comes to the costs of my products. I have my own labor, utility costs, shipping costs, taxes, rent. So it's not as if my material costs doubling causes me to double the price of my furniture. But it does matter. It results in about a 10% increase in my prices. I went through and repriced everything today.
Example: My Chev Danish Nightstand was priced at $229 yesterday. Today I raised it to $249. Raising it that amount doesn't even quite cover the amount of material cost increase, but it's close enough.
It's been a busy past year with many surprises, so I don't know where things will head next, but for the moment this still feels workable. I hope this helps explain why my prices increased some.
Modern, Scandinavian style furniture is popular and my business is strong. I've also made a commitment to eco-friendly materials and finishes that few others in this industry have. Thanks for choosing my work to use in your space.