2023 luxe.zen Pricing Update
As we have all been experiencing, prices have been increasing across the board. For small businesses inflation can be especially hard as we typically do not have large profit margins and cannot rely on our scale to reduce costs. So, we decided to complete a comprehensive pricing audit, looking at each item and its associated costs. Our goal was to only increase prices where necessary, while maintaining our high ethical and quality standards.
Where our costs have increased:
- All shipping costs have increased between 10-25% due to rising fuel costs
- Gold and silver commodity prices have increased by 5%
- Stone cutting labour costs have been increased by 15%
- The Canadian Dollar has declined in value against the US Dollar, which reduces our buying power for gemstones and precious metals
- Gemstone market prices have skyrocketed for certain varietals, some up 100%
So we have increased many of our item prices, but we were able to decrease some prices. We have also increased our free shipping threshold to orders over $150 CAD. We will continue to pay artisanal and small scale miners premium prices and donate 3% of profits back to programs in support of the ASM sector. Further, we will continue to look for imperfect and lower value gems ethically to continue to offer ethical jewelry at an affordable price. We will also be designing new affordable wardrobe staple pieces without gemstones.
We appreciate your support as we move through this time together.