Are my prices too low?

[ManmadeKnitting]

I know pricing is a fine line, too low people ask why and too high people won’t or can’t afford buy.

I recently lowered many of my winter items in my store in hopes of generating some sales. Apart from two sales on the last day of January It’s had no effect. I’m just wondering if my prices are too low and should they be higher than what they are.

[RomaMiaTradingCo]

I think some of your items are too low. A baby sweater for $10? Other shops are selling them for twice as much.

I sell my coffee cup cozies for $7 and that prices has never hindered me selling most of them (I actually need to make more. . .).

In the more recent past I had to raise my prices on some items because I realized I couldn't make money on them. I was selling my hats for $15 and they barely sold. I raised them by (some by $10, others by $15, depending on the type of yarn used), and I actually sold some, and people didn't flinch at the price.

Are you working on your off Etsy marketing? Maybe that will help with moving some of your items.

[ZimWoodworking]

Kevin, I don't think dropping prices is the way to get sales. In fact, it could work against you because many people equate quality with a price. Not always, but the majority of Etsy customers are looking here because they don't want Walmart. I agree with Nikki, spend some time on your titles and tags to see if that makes any dent. Remember to look at your Stats to see what people are using to search and click through to your items. That will give you some good ideas for keywords.

[ManmadeKnitting]

Thank you Nikki maybe I should look a raising my prices. I must admit SEO is well beyond me and I'm looking forward to " Intro to Keywords". I promote on the social media site, Twitter, Google+, Linkedin and Pinterest.

[RomaMiaTradingCo]

Good thing your promoting on social media. :)

The intro to keywords will be a good start for you. Having great SEO is a huge plus. It will help. :)

[ManmadeKnitting]

Thank you Missy, some good points

[ManmadeKnitting]

Thank Ida interesting points to bear in mind.

[fishcouple]

Yes, I think your price on cup cozies are on low end. I knit too so I know how time consuming they are.

I want to sell but feel good at the same time. Need to calculate your time and labor in addition to the material costs. I am constantly learning on it myself...

[RayOfLightJewels]

I wish I had kids to give those rabbits to, genius! You should be getting more sales which means you aren't getting found. Have you done any craft shows in your community? Do all of your friends and family understand you have a great etsy shop? Are you passing business cards around? Prices don't have a lot to do with sales if you are priced in the middle of your competition.

I've just started a new shop so I am looking at all this promoting work again. My firmly established shop sells itself but it has taken 4 years of hard work.
Good luck, Lori