Online Store Love Bedtime Unveils Price Transparency
An innovative online bedding store, Love Bedtime, is revealing to customers a full breakdown of what they're paying for when they make a purchase.
The Chester-based company said it took the initiative during these "unprecedented times" when many people may be struggling financially because of the pandemic and layoffs or reduced working hours, and it wants people to know they're getting a fair price.
The firm is already breaking new ground by selling an easy-to-change duvet cover that opens on three sides instead of one and is building a growing army of devoted fans. Not content with disrupting the bedding industry, the fledgling company now wants to challenge businesses, across all sectors, to be upfront about where their customers' money goes.
Broken down, the cost of a Love Bedtime double duvet cover typically includes 25% business overheads, 22% for wages, another 22% for the manufacturing process, 9% for free shipping and returns, 8% for import duty and tax and 4% for transportation, leaving the remaining about 9% as profit.
The online store is preparing to launch a new range of stylish bedding, and while its products are almost unique in the market, there is some competition from rivals, who charge up to double what Love Bedtime does.
Love Bedtime Founder and Director Chris Jones said it was time to get real with the firm's growing customer base because people are increasingly looking for business honesty and price transparency from the companies they buy from.
"We've all experienced that uncomfortable feeling of being ripped off at some point," he said. "In the face of increased business costs, we're doing everything we can to keep our prices as low as possible. So, we want to give people the peace of mind that they're paying a really fair price. Who needs more uncertainty right now?"