Are my prices too low?

[Former_Member]

Hello lovely Etsy friends,

I was just wondering if you could give me some feedback on my prices please?

I've only just started out and am delighted when I sell one of the goodies in my shop. I'm really nervous about putting people off with prices that are too high.

Thanks for you advice:)

[StuffJustStuff]

I love your shop. I don't know about knits. Though I think they are fair and not to high at all.

[Former_Member]

i think you have a good range of prices so there are owls for every budget. the important question is: do you make enough money with what you charge?

[Former_Member]

Based on your successful sales rate, I'd say your items are priced right :)

[HildesJewelry]

I think your prices are fair ;-)

[Former_Member]

I think your shop is very cute. I don't believe your prices are too high. Are you making enough of a profit after buying your materials? That's the real question.

[Former_Member]

In my opinion, asking people who aren't your target market isn't going to help you. Generally speaking, prices should be related to supply and demand. If you're selling out faster than you can make them - you need to up the price. If you're not selling any, then consider new marketing techniques. But your base starting price should have both income AND profit. (As in money for you and your business). Hopefully you have a pricing formula that takes into consideration your monthly expenses, labor, and materials with built in incoming+ profit. After this base price consider the supply and demand to find the perfect balance between making money, but not selling out too fast to cause stress with having to make more product fast! Hopefully that made sense!

[Former_Member]

I think the pricing is just right it takes awhile to knit. Your items are really cute as well. Happy selling.

[StuckOnSilver]

Adorable work! Prices are not too high. My fave;
http://www.etsy.com/listing/157082220/harry-potter-owl-with-griffindor-scarf?ref=shop_home_feat

[WIRECARDHOLDERS]

Cute items.

[Former_Member]

Thanks everyone, I'll keep going as I am with my prices, do some tweaking in my shop and hopefully more sales will come.

[designedbyval]

Helen - the answer to whether or not you are priced right is:

are your costs and overhead covered?
are you making a profit?
is that profit enough to pay you a living wage (in other words, more than $5?

Not whether or not we, who are not familiar with your industry, think your prices are ok.

[Former_Member]

I see that several people have answered a different question - are my prices too high? - with the obvious "No". But regarding your actual question - are my prices too low? - I would say in some cases I don't know and in other cases obviously yes. Handmade cell phone/eyeglass cases for under $10 retail? TOO LOW. I don't crochet, and I don't know how much time goes into the crocheting or into attaching the felt/eyes/other accessories, but here's my perspective. The owls are cute, and the fact that some are priced so low, makes me doubt their quality. Why is it so cheap? Will it fall apart in a month? Please consider what others have said and make sure your are factoring both wage and profit into your pricing. As long as you are happy with amount of work vs. pay, that's all that matters.

[LIMASCRAFTS]

I think everything is perfect in your shop ;) even your prices: don't put them up, please, because I will want to buy some in the future :)))))

[Former_Member]

Thanks again everyone for the great advice.

Thanks Clarisa:) I look forward to your purchase.