As an ardent follower of the print-on-demand industry and an entrepreneur, I always strive to keep my readers up-to-date on the latest happenings. Today, I bring some exciting news from Printful, one of the most reputable companies in the field.
Printful has recently made a significant announcement: effective from May 11, 2023, they are adjusting their pricing structure. This shift is designed to further support your journey in earning a robust passive income online. Here, we’ll delve into these changes, analyze their implications, and discuss how you can leverage them to your advantage.
What Are the Changes?
- Reduced Prices on DTG T-Shirt and Hoodie Bestsellers: In a move that is sure to bring joy to many, Printful has slashed the prices of most of their Direct-to-Garment (DTG) t-shirt and hoodie bestsellers. This change is key for us, as it directly impacts our bottom line.
- Accessibility to Free Design and Marketing Tools: Previously, these helpful resources were available only to subscription customers. Now, all users can access these tools, allowing us to improve our products and boost our marketing efforts at no additional cost. Check them out here: Background Removal Tool, Custom Mockup Maker, and Promo Maker.
- Revised Shipping Rates: To keep in line with market trends, Printful is increasing their shipping rates for t-shirts and hoodies. Though this might seem like a setback, it is crucial to remember that the cost reduction on top-selling items generally outweighs the increment in shipping.
- Uniform Embroidery Service Fees Across Geographies: Printful is now implementing a consistent embroidery service fees policy across all regions. This fee accounts for the labour-intensive nature of embroidery, which adds a touch of uniqueness and value to our offerings.
Notable Price Changes
Cheaper T-shirts
The Bella + Canvas 3001, a crowd favourite, has seen a price drop of $1.45 in the US, moving from $13.55 to $12.10. Similarly, in Europe, it is €1 cheaper, reducing from €11.75 to €10.75.
The Gildan 64000, known for its thicker fabric, has also become more affordable. The price in the US dropped by 70 cents, from $11.95 to $11.25. But, the most considerable cut is witnessed in Europe with a whopping decrease of €2.25, bringing the price down from €9.80 to €7.55 for some sizes.
Shipping and Embroidery
Shipping costs have been realigned to reflect current market rates. The silver lining here is that the decrease in product cost generally surpasses the increase in shipping rates, which can result in a net gain in profits, especially when customers buy more than one product.
Embroidery services, due to their more labor-intensive process, have been assigned a consistent service fee across geographies. This includes newly added regions like Canada (2.70 CAD) and the UK (1.75 GBP).
Read the complete pricing updates on Printful’s website »
My Take on These Changes
In my opinion, these modifications can be a game-changer. While the individual savings per order might seem marginal, the total savings become substantial as your sales volume increases. This could mean the difference between a modest profit and a substantial one when dealing with thousands of orders per month.
Even with the shipping rates adjustments, you’re generally left with a greater profit margin due to the decrease in product prices. It’s another step toward making your print-on-demand business more profitable and sustainable.
Remember, every penny counts in the world of e-commerce. These changes represent not just savings, but also an opportunity to reinvest in your business, experiment with new designs, or expand your marketing efforts.
Staying ahead in the print-on-demand industry requires adaptability and an understanding of market dynamics. These changes by Printful are an embodiment of such shifts and I hope they can all help us boost our online earnings. After all, a thriving print-on-demand business is all about capitalizing on opportunities for growth. Happy selling!
What do I need to do now?
As we navigate through Printful’s recent price modifications, it’s crucial to reassess your current strategies and adapt them to optimize your benefits. Here are some key steps to consider:
- Reevaluate Your Pricing Strategy: With the newly reduced prices on Printful’s DTG bestsellers, you should take a look at your own pricing strategy. The price cuts give you some room to potentially lower your own prices, which could make your store more competitive. However, in my portfolio of shops we will be taking the extra profit and increasing our marketing spend to make the most of the situation.
- Address Shipping Rates: Printful’s shipping rates update has two implications, depending on how you manage your shipping. If you’re using Printful’s automated shipping profiles, you’re in luck. The updated rates will automatically reflect on your store, saving you the hassle of manual adjustments. However, if you manually input shipping rates, you should review the new rates and decide if adjustments are necessary on your store.
Remember, staying agile and adapting to industry changes is key in the world of e-commerce. These steps will help you realign your strategies to Printful’s updated pricing, ultimately enhancing your store’s competitiveness and profitability.
