One of the most common questions we get from people buying a full body 3D scanner for setting up a 3D printed figurine business is how they should set their retail pricing. If you price too high, people won’t be able to afford your products and if you price too low you may miss out on profits. As Twindom’s customer base has grown we’ve had the unique opportunity to see almost every retail pricing scheme in the industry. Setting retail pricing for 3D printed figurines really comes down to understanding your audience.
Knowing your audience means understanding who your average customer will be and figuring out how much they are willing to pay for a 3D printed figurine. Many people entering the 3D printed figurine industry incorrectly assume that they can have their retail pricing start at +$150 because that is what they see on other 3D printed figurine companies’ websites.
This pricing model only works if you are in a really high end location where a $150 price is normally an easy sell to your audience. Many 3D printed figurines companies that don’t use Twindom’s fulfillment software have to have these higher retail price points because their fulfillment cost to produce each 3D printed figurine is much higher. Because of our investments in software and the number of models that go through our systems on a daily basis we are able to offer fulfillment pricing that is up to 75% cheaper than the rest of the industry- giving our customers with Twinstants much greater flexibility in how to price their products.
In order to understand the audience you will be selling 3D printed figurines to, you want to try and imagine yourself in their shoes. For example, if you’re planning on setting up in a mall kiosk good questions to think about are:
How much money did the customer come to the mall with ready to spend?
What are the reasons the customer came to the mall in the first place?
How many people did the customer come to the mall with?
What value does the customer see in purchasing a 3D printed figurine?
Besides asking the above questions, another way to figure out retail pricing is to get a sample 3D printed figurine and ask your friends/family/coworkers how much they would pay for the product. The responses that you get from people will vary, but should give you an approximate range to start with. Getting a real 3D printed sample is good because you can show people what the real product looks like rather than rely on pictures.
As you’re going through this process, keep in mind that setting retail pricing isn't an exact science and that pricing will be different everywhere. If you still don’t know where to begin try having your entry level product at or below $49, your most popular between $70 and $120 and your most expensive products above $399. If you’re in a tourist location you can probably charge more than this and if you’re at an event where high school students are the ones making the purchasing decisions you probably need to charge less.
Want to discuss your retail pricing ideas with us?