How to set prices?

I've had awesome luck with this team giving amazing feedback on my shop and titles/tags. Can y'all help me out with pricing? I've recently had to raise prices on my scarves (materials costs went up), but I think I may have priced them a little too high. My views are up from a month ago, but far fewer favorites. Any thoughts on the magic of pricing things right?
How did you decide on your prices?
If you sell in person and online, do you use different pricing (to offset listing fees/time taken to put together a listing?) or is it just the same?
If you lower prices, do you offer a refund to folks that purchased at the higher price?

Thanks for any feedback on this or any other part of my shop!
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AliciasFindings
Inspiration Seeker

Re: How to set prices?

There are many formulas for pricing. I say find one that works for you..but here is some from the etsy blog. Another reason why I will say check out the forums and the blog when you can. They have a LOT of material.

https://blog.etsy.com/en/2014/4-ways-to-conquer-pricing-pitfalls/

https://blog.etsy.com/en/2012/a-simple-formula-for-pricing-your-work/
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