Pricing Question

[Former_Member]

I am always in debate about my prices. My husband always says I price too low. I am considering racing my prices. I would love some input on this. Check out my two stores please www.juliemarieshop.etsy.com and www.juliemariekids.etsy.com and let me know. For example I was thinking of racing my prices on my super hero costumes for kids. I have already sold four of the space ranger sets and each time I get done making them I always question how much I should charge. I was thinking of raising their prices by about $5-$10. Please help me.
Thanks team
Julie

[Former_Member]

I LOVE your kids shop! It is all so adorable!
Is there any item that you consistently sell a lot of? Those are the ones, that if priced on the low side, would consider raising maybe $5. I wouldn't make a huge leap. People love a deal, but obviously, you need to price to make a profit. Good luck!

[Former_Member]

I struggle with pricing too. I try to think "if I was buying this item, what would I be willing to pay?" Then I try to figure out if that will cover the materials and labor. And then I will add $2 or so depending on the item because I am a wicked cheapskate. lol. More if it is a bigger item. Most my items are small.

Also, I am in love with your purses!

[DesignByAnyOtherName]

Your very best bet with pricing is to look at the competition. Check out what other handmade things of similar style go for, then check out the closest thing in mass market. Make sure to check with the handmade stuff if they are actually selling things at those prices, or if their prices are just what they think.

For me, one of the things I sell for $5 - I think it's worth closer to $7, but the market is $5, so I do $5 (some sell for even cheaper here!). Another thing I sell seems reasonable at about $15, but the market is $20+, so if I drop it too low, I will bottom out the market, lose money for myself, and there will some people who don't buy from me because they think my product is under-priced and therefore inferior.

Love your items by the way!

[Former_Member]

Thanks everyone. I appreciate your advice.

[Former_Member]

Julie - You have awesome photos! I have a $1000 camera but don't know how to get great pics. Any advice?

[Former_Member]

I utilize my camera's manual setting and the software that came with it. If it wasn't for the software there is no way my pictures would be bright enough. The software allows me to crop, sharpen images, and brighten. I also use a white background as much as possible. I feel like simple more plain backgrounds are best to truly showcase the products colors and textures. Hope this helps.

[Former_Member]

Thanks! I did a little experimenting over the weekend on one of the manual settings :-)