in need of a price critique!

[Former_Member]

hello,

i know my items are more on the high end and people expect to pay more however, i am still worried about my prices.

do you think i have explained to customers in the description the value of my product or do i need to lower prices?

one thing to note is the cup sleeves. they are going. i just need to get new listings in there to take their place.

[SeptemberWillow]

seems high considering other sellers with similar items but I know how much time goes into each item. Hard call

[designingtwining]

Just my two cents- people need to understand that you are using high end materials. The discount store type of folks don't get it. People who want quality are discriminating and will pay.
When comparing your items to other sellers, there is only one person selling neckties. I used "merino wool necktie" in the search. I am not sure what type of yarn the other seller is using.

[beatnheart]

I have been shopping (well looking!) at fingerless gloves lately. Most seem to
be in the $25 range. Yours are higher but I would guess because of the Alpaca
yarn you are using. A diamond costs more than a rhinestone but on first looks
they both look the same. Perhaps you could emphasize the quality and rareness of the yarn...where it comes from...the process of getting it. It’s not acrylic after all. Luxury item right? nice stuff.

[Former_Member]

I think your prices are high, but you clearly explain why - materials, labor, etc. You could lower prices and sell more, for sure, but the issue is whether or not you want to sell more for less. You could end up making money by lowering your prices a bit, but you'll also give yourself more work.

In my other shop (where I actually sell things!), I tend to raise my prices when items get so popular that I can't keep up. That's my indication that I've undervalued the product.

So that's probably the question you need to ask - do you want more work, or is it worth it to you to have fewer sales at this price point? Your items aren't overpriced, but if you want to move more products, you may have to play with the numbers.

[Former_Member]

Congratulations on making 11 sales! You sell a very specific product and people looking for it are going to be willing to pay for it and you do state how much time you put into each item. You're not using materials anyone can pick up in the mega-big-box either. Do you use handmade yarn? Sourcing your fibers must require some effort as well. You do offer some lower priced items, such as the skinny ties that seem to be good sellers for you.

I don't know what the answer is. You seem to be very conscientious about the type of product you offer and I don't see how you can ask for less but that may not translate into huge volumes of sales. You may need to balance the value of the sales you have with the number of them. If you were offering acrylic items you may sell more but you might not. Not many people are offering the high end product you are and the competition at a lower price point is pretty steep. For a comparison, how many people buy a Rolls-Royce a year vs. how many people buy a Chevy? You don't hear about Rolls dealerships closing but we've got a couple car dealerships here in town that have gone belly up. Rolls knows their niche and it looks like you do too.

Hope this helps!
--Carol

[cutterstone]

I agree with everyone above, you are selling a very specific item and your costs are more expensive. I honestly don't know how much time you put into each, but I don't think you ought to lower prices just to get more sales. The ties seem reasonable, that's what you would pay in a dept. store for a high priced tie. The blankets seem a tad high, but again, I'm not sure how long it takes you. You have a good amount of sales for the amount of competition out there. Great work!

[Former_Member]

CicaleTdesigns says

seems high considering other sellers with similar items but I know how much time goes into each item. Hard call
------
It's what's killing me, most people selling crochet on etsy are using acrylic or acrylic blends. Even "high end" acrylic is inexpensive. For example one popular Lion Brand acrylic yarn costs $2.29 a ball not on sale and retail that's for 137 yards. The cost is $0.016 a yard. That's just over one penny a yard.

My LEAST expensive yarn costs $7.50 a ball for a 148 yard ball. That's $0.05 a yard. So my material is at least 3.5 times as much as acrylic.

[Former_Member]

cutterstone says

I agree with everyone above, you are selling a very specific item and your costs are more expensive. I honestly don't know how much time you put into each, but I don't think you ought to lower prices just to get more sales. The ties seem reasonable, that's what you would pay in a dept. store for a high priced tie. The blankets seem a tad high, but again, I'm not sure how long it takes you. You have a good amount of sales for the amount of competition out there. Great work!
------
The blankets take forever.
I think I need to think about the descriptions to talk about the materials and time more. I guess I am not making the case for product well enough. thank you all so much for taking time out of your day to look at my shop!

[Former_Member]

Definitely fight for your products in the descriptions :) Your work is beautiful and I don't think your pricing is off. Definitely talk up your stuff!

[Former_Member]

i am thinking of adding this line to some listings to better explain the process.

"I use a tight even pattern for my products that is simple but takes a long time to create. The resulting fabric will not "run" or come undone or develop holes. "

[JustForGiggles]

My mother and I are spinners and we both sit and look at the priciest skiens on the shelf while we knit with the inexpensive wool. It's like the alpaca is just too precious to touch with needles!!! My favorite pashmina(sp) shawl hardly sees daylight, it's so precious to me! Silly, huh?

But we know the value of of the materials you're working with. Not everybody does. BUT you're just going to have to work harder to find your target market. They ARE out there! I spent my food budget and ate ramen noodles for a MONTH for that shawl! hahahaha!!!

Find your people. They'll shell out for the quality :o)

ps.

I'm not sure if it's the knitting process you want to push when so many of your (?) fans right now are probably fellow crafters. SOOO many people knit that that's not what puts your products above the rest. It's the quality of the material that should be emphasized so that they understand why it's so amazing!

[LaurasLastDitch]

I think the person above comparing rhinestones to diamonds is on to something. You might even want to use that analogy in your description.

Of course fewer people are going to want to purchase high end items, but then, fewer sellers are offering them. Part of the draw of high end items is that they ARE expensive and not everyone can afford them.

Personally, I'd price them high enough to make a worthwhile profit, while offering enough lower priced items (like the cup sleeves) in your shop that you still make regular sales.

One small comment about the baby blankets:

Even though you write the size in the title and explain that the one being sold is larger than shown, I think it might help for the first photo not to show the entire smaller blanket, but just a detail of it, so a potential buyer won't get preconceived notions about its size. It's hard to knock preconceived ideas out of buyers' heads.

Your work is gorgeous, and your presentation appealing. Personally, I'd wait for a Christmas season to pass before making any drastic changes to pricing.

[Former_Member]

http://www.etsy.com/listing/76472472/40in-x-40in-baby-blanket-pure-alpaca-w

Thank you Last Ditch, I have made the change for this listing.

[Former_Member]

I am going to spend the next few days working on different ways to quickly and easy explain about the quality of the materials.

I have educate without being preachy and have to avoid at the same time out right "attacks" on makers of products that use a lower grade of material. I think the diamond/rhinestone is an apt analogy too. i have to figure out how to make it work.

[mahoganybludesign]

I agree with lauraslastditch, fight for your prices, especially if you are using high quality materials and spent alot of time making them. The variable is the time and what you are charging for your time. Will you get quicker and better over time? How does your product match up to other of similar materials/quality?

[Former_Member]

Hi there.

I have visited your lovely shop, and I have to comment that the "Camel skinny tie " is fantastic. I would pay the price you have put on that item.

I agree that on first looks , when you scan the whole page as buyers do, the only thing you see is the price because buyers often have a rough price guide in their head before they look, but on further inspection the prices you charge are justified : time, care attention, materials, all cost money, and if a person likes something for whatever reason they will pay for it.

To be honest at this moment I see a growing trend of glossy magazines and high end designers and shops promoting hand made items, in fact mimicking what etsy have done for a long time now, so maybe they are watching us for our next move/trend to surface.

Continue to reasearch , make and sell your lovely items , how much would you pay someone of your talent to make an item for you? Wishing you all the very best for you and "Kouture Crochet".

Natalie Di Vito x

[LaurasLastDitch]

Just thinking, perhaps you could make the picture like this one to keep uniformity within the photos, especially since all your other photos have a bit of white around the edges?

http://www.etsy.com/listing/79898429/baby-blanket-luxury-merino-wool-30in-x

[Former_Member]

Ok! That is a will do. I have to make another blanket so it will take a while to get those pictures up! But I am not ignoring your advise! I see what you mean and I should have done that in the beginning. Oh well you have to life to learn

[LaurasLastDitch]

Even taking new photos is a pain, let alone having to make another blanket!

[sherischart]

LKAT, what great advice. I am still wallering in my pricing. I was told to use the usual equation and then add just enough to make yourself uncomfortable. I'm still working on it.
You have exceptional products.

[LaurasLastDitch]

Sometimes I'll price some things so that I think the price is really quite high, then buyers might even leave a feedback saying they thought the price was good! Conversely, there are items I think are priced very reasonably, and someone will grouse about the price. Unless I know an item is in high supply or tends to be a dud, I price fairly high. It has worked for me. I work hard at my business, and I think I ought to make a living wage for it. Some people say you should price it what you would pay, but I think that tends to make the price too low. I like what sherischart passed along, about adding enough to make yourself uncomfortable. Another way I like to think of it is "high side of reasonable."

[ForeverWindingWool]

Pricing for knitted and crocheted items is VERY difficult. Nearly everyone has a Granny or Aunt that knits/crochets and gives their items away. Thus, it becomes devalued by some.

The other difficult part is we are taking a relatively inexpensive (some more than others) supply and then work for days or weeks to complete our projects. For example, someone that makes purses might take $12 worth of supply and then spend 2 hours labor and then sell their finished product wholesale for $50 or more.

Fingerless gloves take about 4 hrs. to complete a pair. As a skilled knitter for 25 years I think a wage of $10. an hr is more than fair. Yeah, right. I wouldn't dream of offering fingerless gloves for $55 because you have to include the yarn I hand dyed. And what about the fact that I would be actually offering it at "retail" by many folks pricing standards!

I have decided to charge for my time ONCE and forget trying to do wholesale and just try and make a decent hourly wage. I know how many hours it takes to make my wrist warmers and such. It is my goal to give myself a modest hourly wage and then add the price of the yarn onto it. I was trying to do the whole materials X 3 to get your final price and I just can't do that when there is such a wide variety of price points on materials, not to mention it isn't really fair to the customer. I don't see a way to do wholesale work with knitting or crocheting and get an American standard wage unless you work with huge yarn, hooks & needles.

I said all that to say this; I feel your pain!! :-) I also know that sales of knitted & crocheted items is slower right now. October through Janauary is our prime time! With the winter and colder temps and folks needing things for Christmas we are ready!! :-) So, I would say hold tight. Things you are wondering if they are too high priced may well sell.

So, I now do: a flat hourly wage + cost of yarn=price of item.
This means that I cannot do many large items that take up a lot of time since I don't believe have the high-end following right now...although I am working on it! :-)

Perhaps one day I will put in a nice mens sweater, but I won't do more than one until that one sells.

Of course, all of this is my opinion and may not amount to a hill of beans to anyone. :-)

I have seen you in the forums so you are busy promoting yourself, so that is good. Keep it up!

Wishing you all the best

[Former_Member]

madebymymamma says

Hi there.

I have visited your lovely shop, and I have to comment that the "Camel skinny tie " is fantastic. I would pay the price you have put on that item.

I agree that on first looks , when you scan the whole page as buyers do, the only thing you see is the price because buyers often have a rough price guide in their head before they look, but on further inspection the prices you charge are justified : time, care attention, materials, all cost money, and if a person likes something for whatever reason they will pay for it.

To be honest at this moment I see a growing trend of glossy magazines and high end designers and shops promoting hand made items, in fact mimicking what etsy have done for a long time now, so maybe they are watching us for our next move/trend to surface.

Continue to reasearch , make and sell your lovely items , how much would you pay someone of your talent to make an item for you? Wishing you all the very best for you and "Kouture Crochet".

Natalie Di Vito x
--------------
thank you for your kind words!!

the camel hair products are my fav! just so amazing!

[Former_Member]

Lambsears says

Pricing for knitted and crocheted items is VERY difficult. Nearly everyone has a Granny or Aunt that knits/crochets and gives their items away. Thus, it becomes devalued by some.

The other difficult part is we are taking a relatively inexpensive (some more than others) supply and then work for days or weeks to complete our projects. For example, someone that makes purses might take $12 worth of supply and then spend 2 hours labor and then sell their finished product wholesale for $50 or more.

Fingerless gloves take about 4 hrs. to complete a pair. As a skilled knitter for 25 years I think a wage of $10. an hr is more than fair. Yeah, right. I wouldn't dream of offering fingerless gloves for $55 because you have to include the yarn I hand dyed. And what about the fact that I would be actually offering it at "retail" by many folks pricing standards!

I have decided to charge for my time ONCE and forget trying to do wholesale and just try and make a decent hourly wage. I know how many hours it takes to make my wrist warmers and such. It is my goal to give myself a modest hourly wage and then add the price of the yarn onto it. I was trying to do the whole materials X 3 to get your final price and I just can't do that when there is such a wide variety of price points on materials, not to mention it isn't really fair to the customer. I don't see a way to do wholesale work with knitting or crocheting and get an American standard wage unless you work with huge yarn, hooks & needles.

I said all that to say this; I feel your pain!! :-) I also know that sales of knitted & crocheted items is slower right now. October through Janauary is our prime time! With the winter and colder temps and folks needing things for Christmas we are ready!! :-) So, I would say hold tight. Things you are wondering if they are too high priced may well sell.

So, I now do: a flat hourly wage + cost of yarn=price of item.
This means that I cannot do many large items that take up a lot of time since I don't believe have the high-end following right now...although I am working on it! :-)

Perhaps one day I will put in a nice mens sweater, but I won't do more than one until that one sells.

Of course, all of this is my opinion and may not amount to a hill of beans to anyone. :-)

I have seen you in the forums so you are busy promoting yourself, so that is good. Keep it up!

Wishing you all the best
----------

you are right on all counts! and thats, part of what kills me is that, for better or not, most knitters and crocheters DO use relatively inexpensive materials. not only do i use very high end and costly materials i also crochet using a modified single crochet which uses up lots and lots of yarn. i mean its logical that when you see a granny square blanket the holes are places where there is no yarn so no materials and only labor for that part. on top of that single crochet takes longer to do. so the combination of using more expensive yarn to start, using more material and a more time consuming pattern means that my prices are just going to have to be high to get the same amount of profit.

but when people skim they only see $30 crochet baby blankets and then they see mine for $450. and chances are we are making about the same maybe me making slightly less hourly wage. :( how the heck do i express all that in a listing! and the thing of it is i dont want to devalue someone who uses different materials, afterall it is the same art form. that makes it challenging to.