Setting the right price is one of the most critical decisions a retail business can make.

At Goodies Etc., a gourmet chocolate and candy store located in the heart of Highland Park, Illinois, they have perfected the art of strategic pricing. 

They understand that the right pricing strategy is about delivering real value for both the customer and the business. 

Below, co-owner Robin Roth shares seven actionable tips to help retailers develop a retail pricing strategy that attracts customers and drives results.

1. Start with the Customer’s Budget in Mind

Goodies Etc. begins each pricing conversation by asking one essential question:  “What’s your price point?”

This question sets the tone for a tailored, customer-focused experience. By starting with the budget, the team can recommend gifts that are both thoughtful and realistic. This approach also helps the store navigate a wide range of requests, from everyday purchases to large-scale holiday orders. 

By factoring in the price with delivery logistics, timing, and occasion type, Goodies Etc. makes sure that every product they offer aligns with the customer’s needs and expectations.

As a retailer, it’s important to incorporate budget-based conversations into your sales process. It will build trust, keep pricing flexible, and help customers walk away with a product that fits their goals and their wallet.

2. Adapt to the Season

Seasonality plays a big role in retail pricing, especially for temperature-sensitive products like chocolate. At Goodies Etc., the team carefully adjusts pricing and product availability throughout the year to reflect demand trends and logistical realities.

Here’s how Goodies Etc. aligns pricing with the calendar year:

• Summer (June–August)
  • Avoid shipping meltable items like chocolate
  • Recommend heat-tolerant options or in-store purchases
  • Clearly communicate shipping limitations to customers
• Winter Holidays (November–December)
  • Implement premium pricing due to high demand and labor-intensive packaging
  • Offer tiered trays at different price points to appeal to a broad audience
  • Use an off-site distribution center to manage bulk orders efficiently
• Valentine’s Day & Mother’s Day
  • Promote bundled gift sets that are pre-priced and seasonally themed
  • Offer custom packaging and ribbons to add perceived value without increasing base product costs
  • Encourage early ordering to avoid rush surcharges

By thinking seasonally, Goodies Etc. protects product integrity and manages inventory more effectively. 

If you’re struggling to decide how to price a product for retail, take a page out of Goodies Etc.’s playbook. Review your product lineup and map it to a calendar. From there, you can adjust pricing, availability, and packaging around holidays and weather conditions to protect margins and deliver consistent customer satisfaction.

3. Create Value Through Customization

One of the most effective ways Goodies Etc. adds value and supports premium pricing is through customization. The store offers personalized gift trays, custom ribbons, and even printed chocolate bars designed for special events. 

As co-owner Robin explains: “We can do weddings and parties with customized names on chocolate, s’mores, and bars with company logos.”

These one-of-a-kind offerings allow Goodies Etc. to price based on experience and presentation, instead of product weight or ingredients. 

If you’re in retail, consider adding customizable touches to your products. Personalized items will differentiate your brand, allowing for value-based pricing that increases your bottom line.

4. Offer a Wide Range of Price Points

One of the smartest strategies Goodies Etc. uses in its retail pricing structure is offering a wide range of price points to meet the needs of every customer. This approach helps them serve low-cost impulse buyers and high-margin, repeat business clients, ensuring consistent volume and profitability across the board.

Here’s how their pricing tiers break down in a way that feels accessible and intentional:

• $5–$10. Ideal for customers popping in for a quick treat or token gift. Items like chocolate-covered gummy bears or small bags of candy are popular at this level and drive foot traffic.
• $25–$75. This middle tier features signature trays and seasonal gift sets, which are perfect for birthdays and thank-you gifts. These are customized in-store and can be adapted based on occasion or dietary preference.
• $100+. Reserved for bulk or custom corporate orders, often from real estate firms, law offices, or event planners. These orders include customized chocolate, personalized messages, and even branded ribbon, allowing for premium pricing that reflects the added value and effort.

Retailers across all industries can benefit from incorporating multiple price points into their product offerings. By designing a clear pricing ladder, you create opportunities for different types of customers to engage with your brand at every stage. 

5. Let Product Presentation Justify the Price

At Goodies Etc., product presentation plays a big role in their retail pricing strategy. Robin and her team understand that when it comes to gifts, customers are paying for how it looks and how it makes them feel. That’s why every tray, basket, and package is carefully assembled to look elevated, intentional, and high-end.

A strong visual presentation can increase perceived value and also make customers feel confident in spending more, especially when they’re gifting on behalf of their company.

Here are some practical ways you can ensure your presentation supports premium pricing:

• Use high-quality materials. Invest in elegant trays, clear wrapping, branded ribbon, and sturdy gift boxes.
  
• Pay attention to in-store displays. Showcase premium items at eye level and in well-lit, tidy areas. 
• Upgrade your online product visuals. For customers ordering through your website, use clean, upscale photography with natural lighting and styled backgrounds. 

Presentation directly impacts how much a customer is willing to spend. No matter if it’s in-store or online, make sure your packaging, displays, and product photos reflect the quality you’re pricing for.

6. Be Transparent About Substitutions and Limitations

To maintain trust and to support their dynamic pricing strategy, the team at Goodies Etc. prioritizes clear communication with customers. During busy holidays or hot summer months when inventory moves quickly, the team proactively reaches out to customers to explain product substitutions, shipping limitations, or availability changes.

This transparency helps manage customer expectations and prevents surprises, which is critical when pricing fluctuates. By setting these expectations early, Goodies Etc. helps customers feel confident in their purchases, even if adjustments are needed.

As a retailer, it’s important to think about proactive communication as a part of your pricing and fulfillment strategy. Setting clear expectations will improve customer satisfaction, giving your business the flexibility to adapt pricing without breaking customer trust.

7. Customize Pricing for Corporate Clients

For businesses that need to gift at scale, Goodies Etc. offers a customized pricing strategy that takes into account the unique needs of each corporate client. This level of flexibility allows the store to serve professionals who are sending gifts regularly, while also maintaining strong profit margins.

By adjusting pricing based on order size, branding requirements, and delivery logistics, Goodies Etc. can provide a fully tailored experience that meets the client’s needs, strengthens long-term relationships, and drives repeat business.

Here are the key factors Goodies Etc. considers when pricing for corporate clients:

• Order volume. Larger quantities often qualify for tiered pricing, making it easier for companies to budget for frequent gifting.
• Delivery needs. Pricing is adjusted to cover packaging, postage, and any special handling.
• Branding and customization. Clients may request custom-printed chocolates, logo-labeled ribbons, or personalized cards, which add production time and cost, and are factored into the final price.
• Lead time and urgency. Rush orders or last-minute changes may come at a premium, especially during seasons when resources are limited.

If you’re looking to scale with corporate clients while maintaining control over margins and production flow, this B2B pricing model is perfect.

Developing a flexible pricing model that accounts for order volume, branding, and complex fulfillment helps to position your business as a reliable partner. It gives you the operational control to scale without sacrificing profitability. By clearly communicating options and building in the right margins, you can confidently take on larger contracts while delivering a premium experience.

Conclusion

An effective retail pricing strategy is about understanding your customers, staying flexible with seasonal demands, and delivering a consistent brand experience. 

At Goodies Etc., thoughtful pricing is woven into every aspect of the business, from custom packaging to gift personalization. By placing the customer at the center of every pricing decision, Goodies Etc. has built a model that drives sales and earns long-term loyalty.

Let their approach be a blueprint for your business, whether you sell candy, clothing, or anything in between.

If you loved learning about the Goodies Etc. story and know a retailer who deserves recognition, Nominate A Retailer to submit your nomination!