Author Topic: Festool Price Increase  (Read 5943 times)

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Offline Ken S

  • Posts: 69
Festool Price Increase
« on: December 06, 2008, 11:31 AM »
Yes, that is correct...

 Just received email informing that Festool will have new retail pricing on 1 February 2009.

Time for me to decide if I want to to spring for the Domino System.

We knew this would happen, albeit later on in the year...   

 

Offline MartinW

  • Posts: 21
Re: Festool Price Increase
« Reply #1 on: December 07, 2008, 01:48 AM »
Uhm!  Seems that with the global economy in a nose dive that now wouldn't be a good time to increase the price.  I have some more Festools that I'd like to buy but a price increase may make me think three times (I already have to think twice).

Martin.

Offline KCW

  • Posts: 10
Re: Festool Price Increase
« Reply #2 on: December 07, 2008, 03:22 PM »
Uhm!  Seems that with the global economy in a nose dive that now wouldn't be a good time to increase the price.  I have some more Festools that I'd like to buy but a price increase may make me think three times (I already have to think twice).

Martin.


Is there ever a good time to raise prices on goods and services?  Why should FESTOOL have to "eat" the price increases that I'm sure they are seeing on manufacturing and materials without passing those added expenses on to the end consumer?  That's the great thing about being in business for yourself.  If my cost of living goes up, I have the opportunity to pass that additional expense on to my customer.  If they pay it, I learned that I was underpriced before.  If they don't pay it, it simply means that it's time to re-invent myself and what I do (again).  Good companies and good business people are constantly reinventing their businesses and themselves.

If you don't think their products are worth the additional cost, you have two options as far as I can see. 
1 - Buy those items you are considering before the increase goes into effect (which I just did).  Bob Marino just sold another Domino system to this Kalamazoo business owner. 

2 - Send a message to FESTOOL corporate by not spending your hard earned dollars on their overpriced merchandise.

One final thought......I don't know of too many tool companies that announce a forthcoming price increase several months before it goes into effect.  I appreciate the fact that FESTOOL gives me time to purchase those items I've been considering before the price goes up.  I don't drink the "FESTOOL Koolaid" but I do think they have some very good products.  I don't think everything they produce is worth the premium they charge but they do have some items that are.

Offline MartinW

  • Posts: 21
Re: Festool Price Increase
« Reply #3 on: December 07, 2008, 05:39 PM »
Points well taken  :)
Martin.

Offline Tom D

  • Posts: 43
Re: Festool Price Increase
« Reply #4 on: December 08, 2008, 05:16 PM »
Does anybody know how much the increase will be?
Domino DF 500 Q Set, Domino Assortment Systainer,  ETS 125 EQ, 5" Abrasives Promo Pack, TS 55 EQ, FS 1400/2, OF 1400 EQ, CT 33 E, CT Boom Arm, Handle & Tool Holder

Offline Ron Pegram

  • Festool Dealer
  • *
  • Posts: 127
    • McFeely's Square Drive Screws
Re: Festool Price Increase
« Reply #5 on: December 08, 2008, 05:31 PM »
Does anybody know how much the increase will be?


Hey Tom,

I didn't post this in the Main forum because I thought it might be more suited to the sales forum, but here's a link to a tool you can use -> Price Adjustment List

« Last Edit: December 08, 2008, 05:42 PM by Ron Pegram »
Ronald Pegram
Brand Manager - McFeely's Square Drive Screws
1-608-662-3317
www.mcfeelys.com
R.Pegram@McFeelys.com

(If you're not satisfied with McFeely's, please email me. Our goal is always customer satisfaction)

Offline Tom D

  • Posts: 43
Re: Festool Price Increase
« Reply #6 on: December 08, 2008, 06:16 PM »
Ron,
Thanks for the link, I will have to let Santa know I can save (her) money.
Domino DF 500 Q Set, Domino Assortment Systainer,  ETS 125 EQ, 5" Abrasives Promo Pack, TS 55 EQ, FS 1400/2, OF 1400 EQ, CT 33 E, CT Boom Arm, Handle & Tool Holder

Offline David W.

  • Posts: 33
Re: Festool Price Increase
« Reply #7 on: December 08, 2008, 10:06 PM »
Interesting that no prices were decreased as we've seen in prior years.  This even in the face of a declining euro. 

My guess is that with the current economy, Festool sees that discretionary spending will drop considerably, which means that hobbiest / enthusiast related sales will be severely impacted.  I think they are probably shifting their focus on the purely professional market, which is probably not as price sensitive in relation to the perceived value they receive.   By increasing their margins on professionals they are hoping to keep their overall profitably mostly intact, while retaining their marketing image at the high end.


Offline Tony Costello

  • Posts: 2
Re: Festool Price Increase
« Reply #8 on: December 09, 2008, 02:30 AM »
Quote
One final thought......I don't know of too many tool companies that announce a forthcoming price increase several months before it goes into effect.  I appreciate the fact that FESTOOL gives me time to purchase those items I've been considering before the price goes up.


It's a common practice that's done all the time to get a temporary bump in sales usually from those people sitting on the fence about purchasing.


Quote
I think they are probably shifting their focus on the purely professional market,

Interesting... I always thought professions tend to try and justify the cost of a tool, while someone doing woodworking strictly as a hobby really has no reason or need to try and justify the cost.


Offline CabinetKid

  • Posts: 24
Re: Festool Price Increase
« Reply #9 on: December 09, 2008, 10:54 AM »
Interesting that no prices were decreased as we've seen in prior years.  This even in the face of a declining euro. 

They're taking advantage of the weak Euro to increase their profitability.

My main business is as a photographer and I'm on a monthly retainer by a US publishing house and get paid in US$. When I convert that into UK Sterling, I'm 25% better off.

Offline Dave Ronyak

  • Posts: 2234
  • Flyin' from NE Ohio
Re: Festool Price Increase
« Reply #10 on: December 19, 2008, 12:44 AM »
I'm not very good at using the search tools on FOG, but I know that in the past few days I saw another thread in which a dealer had posted a listing of all the coming price increases.

Dave R.
Friends, family and Festools make for a good retirement.  PCs...I'm not so sure.

Offline Steve-CO

  • Posts: 786
Re: Festool Price Increase
« Reply #11 on: December 19, 2008, 12:53 AM »