Pricing? How do you do it?

[Former_Member]

So I started my shop three months ago. I've gotten tons of views, treasury features, favorites... But no sales. I'm super duper confused. Is my pricing too high? Or is something else getting in the way of sales? How do I calculate if the price is right?

[BlackCatStudio98]

there are lots of pricing formulas out there. I add the cost of supplies, my hourly wage for the amount of time I spend making the item, and I add 10% to cover taxes or fees. That is the minimum I charge.

[BlackCatStudio98]

Some sellers and some formulas would consider that to be wholesale price and they would then double that for retail. However I wouldn't be able to sell my items if I doubled the price.

[Former_Member]

According to your formula, I'm charging exactly what I'm worth lol

[Former_Member]

Materials + Labor + Expenses + Profit = Wholesale x 2 = Retail

[KiltedWoman]

I think your prices are fine. I like the free shipping.

I price by material cost x2 plus labor. I pay myself about $10 for labor unless it took a long time to make or includes special material. I do not do wholesale though or I would be losing money. I want my things to be accessible for most budgets and also comparable to the other shops selling sea glass jewelry.
Look at other shops, are your prices about the same on average?

[Former_Member]

Your shops looks very nice and your pieces are beautiful and appropriately priced, but my first thought (looking through buyers eyes) was, "it's the same kind of crochet flower". Can you expand your offerings with different flowers or kinds of applique to give a buyer more options and selection?

[Former_Member]

i think your prices are good and fair, but other than what maria and james said about the style of the flower i think you need to add more item, no matter what the flower looks like. it´s hard to get found with 24 items in your shop

[Former_Member]

Did you recently reopened? Cause it shows that you already have 37 sales.

Apparently times are quiet at the moment and there is a lot of talk about lack of sales. The only way I see we can get through this is to continue making and stocking up for the better times! Good luck!

[Former_Member]

Yin I, yes, I just reopened...

and Maria and James, thank you for the feedback! I'm currently working on bow clips and bow ties for boys.

[MaddieMakesThings]

I look at similar items and use that combined with pricing formula.

[Former_Member]

I don't think your items are over priced. About right I think. I would Add more variety-try some larger flowers to add interest. Also need more items. Your colors and pictures are awesome! Just keep adding more quality items and have a little more variety and I think you will be on to your first sale soon. Oh! and as far as pricing I take the price of materials and triple the price, sometimes quadripple if I think it took me longer to make or if the price still seams too low.

[ForeverSweethearts]

I charge materials + hourly wage + PayPal/Etsy fees.

[FreshFromtheFlame]

I think your prices are fair. Although I do not see that you have your About page put together. I would be more willing to buy from someone if I can see their process of creating. Then I feel people think pricing is fair when they see the hard work that goes into the product.

[Former_Member]

Thanks FreshromtheFlame! I will be implementing your advice.