Others pricing too low? Vent!!

[Former_Member]

Am I the only one that gets upset when you are looking at new possible products to make and sell and you see people price their products so low that it is impossible to compete? I just saw an awesome bracelet that I would love to make but it had 2 charms, a great clasp and leather cording. They were selling it for $3.00 and change. I can't even buy the supplies for that! Frustrated!!

[mossycreekstudio]

There is a market for that bracelet, on Etsy, at a number of price points. Go with it! Perhaps their materials are cheaper quality? Change yours up a bit and make it worth what you are asking!

My irk is the opposite, if I were to charge prices I see on Etsy knowing what the supply costs are and time and effort, I couldn't sleep at night.

I take price in offering reasonable pricing!

[maydaylabels]

Here's my take: it's a (relatively) free market here, right? So you get people pricing all different kinds of ways: some pay themselves $20/hr, some have lower costs of living and so can survive paying themselves $3/hr, some want to grow their business so they price to make a profit, some are doing it as a hobby and don't need to make any $ at all, just pay for supplies, some are collectives/resellers and can spread the labor and materials costs out over lots of employees and items.

Now, there are lots of ways to be successful as a business even with all of these competing pressures. To avoid the low-priced large-collective product prices, you can target people who want something truly unique or made with high quality materials (and who can/will pay more to get it).

To avoid the reseller product prices you can offer something personalized.

To avoid the hobbyist prices you can make something that no one actually enjoys making, or that no one else knows how to make (or use materials no hobbyist knows how to source).

[Former_Member]

Sara, that is the best answer I think I've ever heard to the pricing query!! Bravo!

[Former_Member]

I agree with Sara, offering custom items has been the key for me. There are tons of crochet stores on Etsy but I've found my niche and it works for me. I stick with a few core products, occasionally throwing something I just had to make. :) and my customers love it. They can order items as listed or contact me like a couple this week needing different sizes, colors or quantity. I worked it out and received orders from all three. :)

[mossycreekstudio]

well said Sara!!!

[kickglassenamels]

Sara, that is a great analysis.

Also, there are buyers who don't know much about artisanship, and equate a low price with low quality. You can shoot yourself in the foot by pricing too low. It tells people who don't understand your craft that it's not worth much.

[Former_Member]

Personally I don't pay any attention to what others are pricing their items at.

There is a huge market out there for all sorts of prices.

Some people prefer to shop at Walmart and others will go to Neiman Marcus.

So whatever price point you are selling at, be sure to target the customer who is buying at that price point!

[HandbagHavenBoutique]

You are definitely not the only one who notices this! I hate to see other sellers trying to sell the same thing as someone else for half the price when it "Cuts the throat" of so many sellers who work so hard!