Upping some of my Prices in May

[NatashasDesignz]

Hello

I've decided after doing lots of research that I will be upping just some of my prices in May, to reflect the hard work and quality that goes into my work

Do you think its a good idea to give this notice to my potential customers (I have on FB so that they can get a bargain now at my current prices) but they also know they will rise shortly?

Should I also add to my Shop Announcement or leave as is?

[AuraRosesTreasures]

IMHO, Because you are deciding that the new price is the true value of your work, no notice is necessary.
Your prices state your confidence in the value you bring to your customers.

If you have loyal customers, you may wish to send them a coupon code to take a %age off their next purchase.

[Former_Member]

I wouldn't post anything, just increase your prices and you only need to explain your reasoning if someone asks you why your prices are higher. Drawing attention to it may put people off.

[BrushStrokeOrnaments]

I totally agree with missbelluk. There is no need to give notice nor any reason to explain your prices. You don't typically see your local retailers giving any notice about their pricing increases...

I've increased my prices numerous times over the past 2 years. I have, however, increased my prices gradually over this time (and I typically increase my prices by relatively small amounts each time).

You don't indicate how much you intend to raise your prices. If it is a significant amount, you may notice a slight decrease in sales. But, as long as your pricing is in line with others who sell a similar product, it shouldn't be a problem.

[Former_Member]

When I increased mine a little, I didn't post on Etsy but did post on my FB page: "You may have noticed a slight increase in prices. Due to the increases in materials, etc. this was a necessary evil. Fear not though! I will continue to strive to keep my products affordable for you! :)"

I did this as part of my "brand" is offering affordable product that is still high quality. If the affordable for the average mom part wasn't so important to me, I wouldn't have bothered.

[Former_Member]

I agree, just go ahead and increase them :)

I have just increased ( significantly) the price of my custom bookmarks, as after making several orders of these I realise I am out of pocket on them. Also, watched a really thought provoking online lab about pricing last night and realised all my prices are too low, so will be increasing the others too!

[NatashasDesignz]

Thanks all, I only intend to increase my prices bit by bit but need to get right so that my quality of product is shown as well as making a small profit on my business. I feel once I have my prices spot on, I won't need to up them anymore unless of course price of materials etcy go up

Good on you Gillian, you need to be making a profit to continue running your business long term (I need to listen to my own advice, lol)

[Former_Member]

I am thinking of doing the same thing Natasha, glad I read this thread, I know on some of my items I am way too low, being a new seller I just wanted the new customers, but started selling in Oct. and have only had 4 sales, so I think I'm going to do the same, increase a little here and there and see what happens and I don't see any need in posting anything on Etsy! Good luck, I hope it works. I'll let you know too. And Good Luck Gillian also. Everyone else, thank you for all the advice too. Justine

[NatashasDesignz]

Thanks Justine and good luck :-)