Ok... I did what I was told

[Former_Member]

After yesterday's thread I was told by several people to up my prices. So this morning I went and did just that. I have raised them $2.00 to $4.00 more depending on the item. This is just one example..
https://www.etsy.com/listing/109118318/small-pouch-womens-accessories-handmade

Is this better? Do you think this is a fair price? Please do tell... Thank's.

[SalemStyle]

Yea i would definitely pay that. I wasn't around yesterday but I'm surprised they were cheaper! I like your shop a lot too!

[rusticcraftdesign]

I think $7 is a fair price absolutely.

and....i would really target the breast cancer market with your titles and tags with this particular pouch. maybe like:

"Breast cancer Awareness Pouch - Handmade organizer womens accessories"

[KatGurumi]

Honestly, I'd probably say raise them a bit more, if anything.

[Former_Member]

Oh wow Katie really? Thanks so much guy's!

[ColorMyWorldCrochet]

Yes, I definitely think you have more room to raise prices. You only have a $3 price difference between a pouch and a child's skirt. I think you could easily go up to $15 on the skirt. Also, I think you could go higher on the aprons as well.

[Porzana]

Wasn't around yesterday, so I'm not sure what all was said, but here is a blog post I found very useful concerning pricing: http://www.etsy.com/blog/en/2012/a-simple-formula-for-pricing-your-work/

Your prices still seem low to me - you deserve to get paid for the work you put in!

[Former_Member]

Teresa,
Your price is fair to the customer, but how about you? I think you could raise the price more. Best of luck to you.

[Former_Member]

Patti, The skirts are all I have left, so I have put them on my clearance section. I did have them for $15.95. And thanks Mandy I will look into that.

[Former_Member]

I am with Katie. I think 7 dollars is a good price, but if I were to see this at a store they would be like 10 bucks. Plus yors is handmade.

I am supprised they were cheaper! Thats great though! I hope you sale a bunch!

Good luck!

[Former_Member]

think about what it cost you to make them, and what you want to get paid ( as well as whats reasonable)

[Former_Member]

Maybe I will try another $1.50 next week and see how the weekend goes with sales and views.
xoxo

[WilliamsGiftshop]

You could easily ask $10 or even $15 for this pouch.
I know I would.

[Former_Member]

I definitely think you should go up on your price! :)

[Former_Member]

Your prices seem extremely low. Are you calculating the material costs and labor involved in creating each piece or are you just making up numbers???

[seemomster]

Even if you bought all your fabric on sale...or are using fabric given to you...sooner or later you will have to re-stock. And fabric prices have been going up. Keep that in mind. (Your prices still seem low to me.)

[Former_Member]

Have you watched the Pricing for Profit workshop? Check it out in the Online Labs- it blew my mind!

[Former_Member]

I think your prices are low, but I would raise slowly and see how this affects our sales.

[Anthropologeek]

I think it is a fair prince. With this one you could even raise it up a couple more dollars and state you are making a $2 dollar donation to a cancer awareness fund or even make it a fundraiser item. You make the item for $6.00 and they sell them for $10! Win=win situation!

[Former_Member]

Yes, maybe I will inch them up a little at a time... thanks so much for all your help!!

[Former_Member]

Why don't you calculate your products accordingly to the etsy's profit math? That would help to determine if your product is priced correctly.

[Former_Member]

I sew and those prices still seem too low. If you're working as a hobby and aren't really in it for the "business" part of it, it's fine. If you want to make a profit and grow though, you really have to take a look at how you price things. I'm not saying you have to follow any specific formula but you do great work and you deserve to be paid fairly for it!

I give myself a fair hourly wage that will increase as I build skills, learn new things and gain even more experience. I also factor in overhead, Etsy/paypal fees, profit and materials costs based on FULL PRICES, not sale prices. If I had to buy fabric for a specific customer and it wasn't on sale, I'd pay full price so the cost of my items needs to reflect that.

Also, raising your prices could mean that you work less and make more. I was working my fingers to the bone when I began offering bandana bibs because I sold them for $5 each. There was virtually no profit and I was working like crazy! I raised the price to $10 each (or 3 for $24) and I make much more profit on the ones I DO sell, making up (then some!) for the fewer sales.

[WilliamsGiftshop]

Yes, that is an important aspect!
It might sound strange, but I bet your sales will increase when you increase your prices!
Potential customers see your low prices and think that the item must be of low quality, have flaws, etc.
When you show them you value your unique handmade products, they will value them too!
Now they just think 'why is this seller giving away her products for next to nothing? what is wrong with them?'.

And think about this: when your pouches would cost $12 (still very cheap), you only had to sell one instead of 3 to make the same amount of money.

I increased my prices drastically over the past years (have been selling on Etsy for over 6 years). I sell way less items than in my shops first years, but I make the same amount of money (even a bit more).