Pricing help

[Former_Member]

Now I had few comments on customers about my low prices (and they aren´t sale items) so I did some math with pricing formula that my friend have.. I was shocked about the result, because normally I just trust my gut and put price that I´m willing to pay.
One of my necklaces I was getting about a dollar profit when labor and materials were counted.. So probably not smartest business idea.
Now I have used that pricing formula for my items, and now I´m actually getting something. But the prices seem so shocking. Maybe It would be wise to not rise them directly to that price but small pieces in time?
I have raised my prices and my may sales have been quite low.. I have sold few of my sale barefoot sandals and one of my normal price barefoot sandals. The funny thing is that barefoot sandals are one thing in my shop that I haven´t increased prices. So have I increased my prices too much now or is it just coincidence...?
Any thoughts and help would be greatly appreciated..

[RSQDesigns]

I think your prices aren't that high...even still a little low.. it may just be a coincidence.. I have heard on a few threads that mays been a little slow, could just be that?!I say leave them as is, you always have to make a profit or the work isn't worth it... good luck and great stuff!

[NicoleNoelleJewelry]

Your prices do not seem too high to me. Just about right, and could even have wiggle room to go up a bit.

[MaryPowDesigns]

Your prices look good to me. Not too high for sure. It's hard to take the jump and increase your prices, but stick with them. There is a bit of an adjustment period, but I still think it's best to just raise them all at once to the price that you should be selling them at to make a profit.

Be proud of your work and don't short-change yourself! Good luck!

[Former_Member]

Your prices are not high in the slightest!

One think that helped me in the early days was the realisation that I was not in competition with huge mass market stores. Price wise, I could never compete, and the type of customer is different.
Only compare yourself to other successful handmade businesses (not people doing it as a hobby where they make nothing!), and you'll be in the right ballpark.

[Former_Member]

Thank you all for your help! Maybe it´s just coincidence that my sales for May has been a little low and increasing my prices hasn´t been reason for that.. I was going to lower them a bit but now I´m thinking that I will keep them were they are and appreciate my work...

[Former_Member]

Hi Annika,

can you please tell us what is the formula you used?

[Former_Member]

Use this link and just plus in numbers for a pricing formula: https://craftybase.com/etsy/pricing-calculator

Annika ... maybe look at your SEO. I noticed that alot of your items have the same title description over and over which is not good from what I have read. I am NO expert but when my prices are fair, my photos are good (yours are!!)... then it's time to look at titles & descriptions & tags, I would say! There's a great SEO team out there too. It's a little overwhelming, but I have learned tons from it.

[Former_Member]

That team is call "SEO Relevancy SEO & Stats"