How often do your peers raise their fees? Interior designers shared their thoughts on the subject for the latest exclusive survey from sister publication Designers Today and Strategic Insights.
More than half (55%) of respondents increased their fees this year, as industry members acknowledged that fees reflected the higher costs of products, staffing and demand. One-quarter raised fees by more than 15% and more than half of fee-raisers (54%) hiked them by 8% or more.
Survey respondents who raised fees by:
- Less than 2%: 2%
- 2% to 4%: 19%
- 5% to 7%: 25%
- 8% to 10%: 19%
- 11% to 15%: 10%
- More than 15%: 25%
Inflation was the most often cited factor at 70%, but more than half of interior designers also pointed to higher product and material costs associated with supply chain issues and the increased cost for wages and benefits for staff members. Not far behind, at 44%, was the impact of higher transportation costs.
The full survey will be in the September issue of Designers Today.
Andrea is passionate about home design, and has covered the home furnishings industry for most of her journalism career. She is the Executive Editor, Design, of Designers Today; in addition, she also serves as the Managing Editor of HFN and Lighting Editor for Home Accents Today. Andrea lives in beautiful Brooklyn, where she could very well be the only person without a tattoo.