Saturday, July 26, 2008

Lowell Folk Festival

This weekend is the Lowell Folk Festival, and I have been selling jewelry through Art in the Courtyard. It has been a busy weekend so far - my theory is that people are going crazy and are all happy and doing fun stuff after so many rainy, thundery, floody, yicky days.

I'm sharing a tent with my friend Liz of Made in Lowell , which has been great - she makes beautiful felted and polymer clay items (jewelry, pins, hair accessories, beads, polymer clay covered eggs). It's always nice to share space with someone - it's an extra set of eyes, someone to chat with when things get quiet, it's all good, really!

Anyway, if you are interested, I did some number crunching. These numbers will be more interesting to you if you also sell at craft shows, or if you run a retail-type small business of some sort. (If numbers and stats and stuff like that are not interesting to you, now is where you should go check out another blog on your list - see you soon!)

For a couple of years, I did not accept credit cards - I did not know that such a capability was accessible to me at a reasonable price, and I wasn't sure if the cost would be outweighed by the benefit. Well, through Propay , I think that it has indeed proven to be worth the cost.

Check it out - here are some stats from the first two days:

My number of cash sales and credit card sales were 1:1. HOWEVER, the average cash purchase was about $21, whereas the average credit card purchase was $51! Even when I take into account the credit card fees for these purchases, the average is still $49.30. My conclusion? People spend more money with credit cards than they do with cash, and the fees are worth it. I think that this is probably particularly true at craft shows/ fairs/ festivals, where a lot of vendors don't accept cash, so people become more miserly as the day goes on... they have to save the cash for food vendors, for parking, and other costs where they can't use a credit card.

Anyway, we really lucked out over the past two days - the weather has been lovely, and people have been out in droves. Unfortunately, the weather forecast for tomorrow is less than optimal, but I guess we'll see what happens. Wish me luck, if you get a chance!


Stacey said...

It was great to see you and I love my necklace :) I am glad you took cards, I usually try to bring cash to markets but I hadn't gone to the atm yet. :) Good Luck today!

aweso said...

i need to look into that propay thing! i lost at least 4 sales at my last show because i didn't take cards! i'm glad it worked out so well for you..