Former_Member
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Are my prices too high?

I'm struggling with pricing - my prices were pretty low, so I wasn't making a lot of profit, and I'm hoping to go full time with this in the near future ...so profit is something I need if I want this to work long term.
I've raised my prices, but now am worried they might be too high. Thoughts?
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Former_Member
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Re: Are my prices too high?

I don't think they are high, in fact I think they are still a little on the low side.
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Former_Member
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Re: Are my prices too high?

Oh no, I don't think they're low at all! I agree with Teri, you could even bump them up some more :)
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Former_Member
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Re: Are my prices too high?

Your prices aren't high at all! I agree with the others - you could bump them up even more! Whenever I see low prices when I'm shopping around on Etsy, I question why the prices are so low (low quality?). There is no harm in raising them even a little higher. Good luck!
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Former_Member
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Re: Are my prices too high?

I agree, your prices are a little on the low side and I wouldn't be surprised if it wasn't better to raise your prices! I see that your facebook/twitter followings are a bit low, have you been trying to gather followers through there? Also, I see that your products focus on strength and health, have you been to the different communities online (off of etsy) for people suffering or in need of inspiration? That's definitely a potential outlet for selling your products (not to trivialize what they're going through whatsoever).
Good luck!
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Former_Member
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Re: Are my prices too high?

Thanks everyone. Just curious, how much more should I be raising them?

Laila - I haven't looked into the communities for people suffering, but do like that idea. I've been through a lot in my personal life myself in the past few years and now that I'm stronger and healthier myself, it's really inspired a lot of the jewelry items I have been creating.

As for facebook and twitter, I have just really started promoting seriously on those two in the past week or so, so I am hoping to gain more followers soon.
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Former_Member
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Re: Are my prices too high?


Dont worry about it.
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Former_Member
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Re: Are my prices too high?

thanks.
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Re: Are my prices too high?

I don't know what you pay for your supplies but for me personally, even if I got my supplies for free, I don't think listing anything for under $10 is worth it. After fees and other miscellaneous costs you still need to pay yourself a living wage and have a profit plus some needs to go into growing your business. But that's me. You should probably sit down and crunch some numbers and figure out all your expenses and then figure out what you want to charge.
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Former_Member
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Re: Are my prices too high?

Thank you! I will be doing that in the next week. Going full time is going to be a process for me - I finish my full time job at the end of August (it was just a summer job), then will be looking for part time work in the fall while putting full time hours into Etsy.

I think my biggest worry is that people won't be willing to pay what I'm charging when there are other people out there selling for significantly less. :S
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Re: Are my prices too high?

I think everyone worries about that. If you're not making a profit though what's the point? You can price higher than your competition and do well. You just have to make sure you have excellent pictures so people can see the quality of your items and you need to make it clear in your descriptions that your product is worth it. People are willing to pay more for better products.
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Former_Member
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Re: Are my prices too high?

Seems like everyone is thinking along the same lines . . . the prices can still be bumped up, especially for sets. Wow! Your time is definitely worth more than that, especially after you package and take them to be shipped.

Good luck,

Mo
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Re: Are my prices too high?

Hi Amanda!
agree with the others that you could bump the prices up (but not for all of your items, you could leave some with a lower price and in the samme time add more items in your shop!
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Re: Are my prices too high?

I just took a look. Your prices seem on the low side to me too. :)
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Former_Member
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Re: Are my prices too high?

Thanks everyone...Im in the process of raising them over the next several hours
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Re: Are my prices too high?

Yep - I think you could still raise your prices a little. Think about how much time you have put in and the cost of the materials, advertising, fees etc. Are you undervaluing yourself and your efforts? Probably - many of us do.
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Re: Are my prices too high?

Amanda - have just taken another peek at your shop and would say again your prices are too low - way to low - translating it into £ makes it seem even lower. A bracelet for £3 ($5) - I can't buy a sandwich for that! :0)
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Former_Member
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Re: Are my prices too high?

I just raised my prices - are they okay now, or should I be thinking about changing them again?
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Former_Member
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Re: Are my prices too high?

As a buyer only (I don't make jewelry) - I'd pay your current prices, but any higher and it would be out of my budget.
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Former_Member
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Re: Are my prices too high?

Kori, thank you for your input as a buyer! That helps a lot!
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Former_Member
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Re: Are my prices too high?

You have beautiful items! I love your jewelry. :-) I think your prices are quite reasonable, if not still a little bit on the low side. Don't forget, you need to factor in more than your materials, advertising (if any), and Etsy fees. You spent time designing and making each piece. You also spent time taking the pictures, listing, and keeping an eye on them.

I follow a $10 per hour rule for myself. I have a rough idea of how much time it takes to make bracelets, necklaces, earrings, bookmarks on average. I factor in that time when figuring out my prices. I've had success locally using this method. I'm fairly new to Etsy, and have only had one sale here so far, but I'm hoping once school starts up again people will be staying home more. My profit margins aren't high, but this is more of a fun, creative hobby. I sell purely as an outlet for my beading passion. Have to pay for the new beads somehow. ;-)

I have actually received more interest once I raised my prices. I discovered I was barely covering the cost of supplies. There are people here locally that sell cheaper as well...some have connections with supply companies in China and other places abroad. I'm pretty picky about where my supplies come from. I like to support independent sellers on eBay and here on Etsy, and I also shop Firemountain Gems. I had to accept making my prices slightly higher than the competition. I was pleasantly surprised to find out my service was better, however. I have always offered free repairs if something happens to the jewelry, while my competition was often selling stuff they didn't make and had no idea how to repair it if it broke. That helped me learn, service trumps cheaper prices as well.
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Former_Member
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Re: Are my prices too high?

Rebecka - thank you! That helps a lot. :)
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