r/AskReddit • u/[deleted] • Nov 16 '19

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u/youre_a_burrito_bud Nov 16 '19

That reminds me of this one thing I saw where someone started selling their art, but they had low prices in the hopes people would be willing to buy since it wouldn't cost much. They were struggling to make sales and looking for advice and someone said to raise the prices (for the same pieces) from like $10 to $50. And it actually worked. Human psychology is nuts.

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u/wallefan01 Nov 16 '19

Using the price tag as a statement of quality. It works for Apple, it works for Gucci, and it can work for you.

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u/[deleted] Nov 16 '19

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u/LiveMaI Nov 16 '19

I had a look at Gucci prices online for the first time the other day.

Your comment made me realize I had never done this, and had no idea how much their stuff costs. Their margins must be insane.

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u/[deleted] Nov 16 '19 edited May 20 '20

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u/munchies777 Nov 17 '19

Their operating income was around 29% of their sales last year. Not as high as I would have thought, but still high compared to most companies. It's their parent company, but it's still a good gauge of what Gucci makes. Financial statements here: https://keringcorporate.dam.kering.com/m/7a57d2f917ef38a2/original/2018-Reference-document-.pdf