Lowering my prices?

[MichelleAnnJewelry]

I desperately need to make sales with my shop, just wondering if lowering my prices could make things sell faster?

[Former_Member]

Lowering your prices MAY work, but then you will have to revamp your marketing strategy as well to attract a different level of clientele.

What are you doing to bring buyers to your shop now? I've found that marketing outside of Etsy is the best way for me.

[WilliamsGiftshop]

That definately sounds desperate.
But no, you don't want to lower your prices.
They are already on the low side.
Lowering them more will have only one effect: people will think the quality of your items is poor.
Instead you want to work some more on your tags (multi word tags work better then single worded ones).
And you want to promote, promote, promote, and promote some more (outside of Etsy).
Jewelry is the most saturated market on Etsy, so you want to take every effort to stand out from the crowd and make buyers choose your items over those of other jewelry shop.
No matter how tempting it may sound, lowering your prices is never the answer.
Wishing you many happy sales!

[MichelleAnnJewelry]

well if I lower them and when they get them see how great quality they are could bring in repeat sales and possibly referrals?

I have been promoting my butt off, been 5 years and my sales are not where I would have expected them to be :(

[BaloolahB]

How can you possibly lower them??? You are seriously reasonable already!

[Former_Member]

I agree! Your prices are very good - you don't need to lower them.

I noticed that you don't have a link to a facebook page or twitter page. I've only just started on Etsy and haven't had any sales yet but when I put out a tweet and check my stats I notice that it does bring a bit of traffic. Maybe if I don't get a sale now they will remember me for another time!

Good luck and don't give up!

[Former_Member]

Your could try it on some of your pieces. I don't think it's a good idea. You have very reasonable prices. If anything raise them. I have always heard that this works.

[HausofAriella]

Like the others said, I think your prices are quite low on many of your items anyway. I definitely think you should work on your titles and tags before deciding to lower them anymore. You could have the lowest prices in the world, but if people can't find you then they can't buy from you. Also, like Bea said, in the mind of many people, especially on Etsy, low price = low quality. You might get a few more sales because of it (though less profit per sale) since there are always people looking for bargains, but I highly doubt it would bring many repeat customers or referrals.

[Former_Member]

I agree, that you would do better to raise your prices, not lower them!

I'm assuming that the reason you need to make more sales on your shop is because you need the money? You could have less sales, but make more money on each sale if you charged more.

Can you identify anything you are doing differently (or not doing anymore) since March when your sales dropped off?

[MichelleAnnJewelry]

Thanks everyone, will need to do some serious strategizing.
My views are awesome but my sales aren't as great!

[Former_Member]

I agree with the crowd, don't lower your prices, they are already really affordable. I make jewelry too and I know what supplies cost and how much labor goes into making a piece - if you lower your prices, you will be working for hardly anything and that is not a permanent solution.

Have you tried selling outside of Etsy? Perhaps taking your jewelry to an art fair or showing it to a boutique? Your photographs are lovely and I am sure you would be accepted into many art/craft fairs.

Best of luck, you items are all beautiful.

[WilliamsGiftshop]

I am living proof of what Emily said!
When I started my shop, my prices were less then half of what I charge now. I sell way less items now, but make the same amount of money!

Another thought: if your views are awesome, like you say, yet you don't make many sales, those views are not the right ones!
You want to find your target market (outside of Etsy) and promote to them.
Promoting is not about getting as many views as possible, but about getting the RIGHT views, of the people that want to buy your products!
After all, each item needs only one view: of the person wanting to buy it!

Don't lower your prices hoping to get more views. Raise them instead and find the right crowd to promote to. Who are they? People that love your unique handmade jewelry and that are willing and able to pay the proper price for it.

[MichelleAnnJewelry]

thanks again, actually I have no idea who my targeted audience would be. How can I find that out?

[PaperFlora]

Are you promoting anywhere besides Etsy? You have to constantly, promote promote, promote.
Your prices are very reasonable, I think you should raise them. Really!
Watch the Art of Pricing - http://www.etsy.com/community/online-labs

[Former_Member]

Hi Michelle, your items are beautifulllll and the prices are right!

I see your titles may need work...like this one:
http://www.etsy.com/listing/93800049/beaded-turquiose-hoop-earrings-oceanic

The first 3 words are the most important for relevancy..and may bring you moreeee customers in your shop.
You should have the word earrings as the 2nd or 3rd word. In the above listing you have it as your 4th...

This team helped me out a lot and my sales have started to roll in too!
http://www.etsy.com/teams/11352/relevancy-and-seo-for-all-etsy-shops

Best of luck!

[Former_Member]

These earings are gorgeous.
http://www.etsy.com/listing/88831752/blue-sterling-silver-earrings-atlas
I have a very active facebook page and a lot of my sales come directly from there.
Like mentioned above, jewelry is such a saturated category on Etsy. I think you need to find your buyers elsewhere and bring them in.

[Former_Member]

I agree with everyone else your prices are next to nothing and almost free so please don't lower them.
Try other venues to promote your site; Twitter and promo groups work well and do you have a FB page? or try the Karmetic approach and gift someone your art and the reutrn will be 3 fold : )
I think we all go through lulls every now and then, so take it in stride while finding new venues to promote your work : 0

[ArtifactsEtCetera]

Have you watched the "The Art of Pricing for Profit" video in the online labs? Here's a link to the labs: http://www.etsy.com/community/online-labs

Just click on the "Etsy Success" category under the video and scroll through to find that workshop. There is some amazing information that *everyone* needs to consider. Trust me, they would tell you absolutely NOT to raise your prices. In many cases, I'll bet she's suggest that you double them.

You have a beautiful shop... make it work for you! Best of luck!

[ArtifactsEtCetera]

Oops... I meant they would tell you NOT to LOWER your prices. I had my mind on increases! ;)

[MichelleAnnJewelry]

I do have a facebook fanpage :)
http://www.facebook.com/pages/Sparklingtwi/186281241828

[starflycreations]

You have a beautiful shop and wonderful pieces that seem priced very, very good. Maybe too low. Have you added or renewed lately? Maybe you are just getting lost in the new jewelry added daily. You could try doing a temporary sale through Etsy on Sale or running some Etsy ads.

Good luck.
s

[wildwomanbeads]

I'm with the team here. No to lowering your prices. it would make viewers believe that you must not be using quality materials or making quality products if you can sell them for lower than what you're already doing. Not the impression you want to leave them with.

I agree that a better strategy, and less desperate seeming, is actually to raise them so you put yourself in a category with higher end jewelry and reach higher end buyers. Look competitive with other jewelry sellers, bot like you're underpricing them.

Promote, promote, promote. I tell folks to do for others what they want for themselves. Make treasuries that feature other shops. Help other shop owners boost their profile. Be intentional about who you help, and why. In turn, eventually, they will also promote you.

Make sure you have a FB page where viewers can learn more about you personally. Collaborate with other FB pages on contests or giveaways, or something that is more fun for everyone if you do it together.

I just don't see how lowering your prices will gain you anything in the long run, and might even create a "brand" for your work that is the opposite of what you really want people to think in order to buy.

[MichelleAnnJewelry]

thank you so much everyone, love reading all your posts, suggestions and comments. Will help a whole bunch :)

[Former_Member]

i also struggle with pricing on etsy. Please do not lower your prices. I agree with the others, at the very least double the prices. You make great pieces that need to be represented with value. Low prices are only hurting yourself and other artists.

i'm really happy you posted this thread because pricing is such an issue on etsy.

good luck!

[Former_Member]

If you want to find your target market, taking your wares to craft fairs is a very good way to gauge who is buying your products. It's also a great opportunity to chat to your customers, and ask them who they are buying for, why they like your items etc.

That can help you to find out who you need to market towards online.