Looking For Some Direction

I'm struggling over the prices in my Etsy shop. I think maybe I need a more consistent pricing structure? Right now I price based on the cost of materials. But that results in a big variance of prices. Because sometimes the materials are a great find, and other times it's a killer eBay cage match in order to get them.

I'm also being told that my items are priced too low. "Blah blah, perceived value. Blah, blah stop buying supplies. Blah, blah make my dinner." Which bothers me because I want to keep what I make accessible. But after reviewing my last Etsy bill...ufta!

I'm tempted to close up the shop for a few days and restructure prices. But I'm afraid that I'll turn buyers away if I do that.

What do you think?


Jen said...

Your stuff is great Lotta, you should ask accordingly for it.

Shannon said...

I was just looking at your shop this afternoon and was actually surprised at the prices - they were lower than I would have expected. So I don't think it would be unreasonable to raise your prices. Of course no one likes to pay more when less is an option, but I agree with Jen. You should ask what you think is fair.

Lynn (Walking With Scissors) said...

I think that if it were me, I'd try to average out the prices more. Instead of pricing each item individually based on what you paid for supplies, take the average of what you spend and make the prices more uniform. That way, people won't look at your items and wonder why item A is so expensive when item B, which is in the same genre, is so cheap.

Lotta said...

Lynn - That's great advice!

Amy Kate said...

I'm with Lynn, do an average and charge accordingly - rings, whether it's a button ring (Um, I never gave that cute purple one to my niece. I totally kept it for myself and I never wear rings. Just my wedding band and your fun purple one. HA!) or a crystal-ly one, should be within the same range-ish.

Your stuff is great. And you put a lot of time and thought into each piece, finding just the right materials and fun doo-dads to work with, you should definitely be charging more. Have you seen what some people charge on Etsy? I'm just saying.
Wait, so those of us who voted get a discount when you raise the prices, right?

Lulu said...

I voted for the 'this is what I've been telling you' even though I haven't. And I like Lynn's idea - it's how I price the Lulu collages...

Lotta said...
This comment has been removed by the author.
Lotta said...

What do you all think about this.Two price points per category.

For example Rings would either fall into the "normal" button ring section: Plastics, some glass. Or into the "special" button ring section: Bakelite, Czech glass, etc.

Same for the necklaces and earrings. Then just one price for hair slides.

Amy Kate - Of course!

Thoughts? And you all rock for helping me figure this out.

Lulu said...

I like it - because then, if I'm looking for some cute stuff that's not too $$, then I know where to browse - likewise for the most special category.

Lulu said...

And I'll gladly pay full price, if you'll school me in the art of the close-up shot! I love your displays - nice little styling vignettes.

one smarmy mama said...

One thing I particularly like about your shop is that you have the variety of stuff. Some pricey stuff and then stuff I can just grab and say "I got it from Mom O Matics shop" if that makes any sense. It always sucks to find a great shop but not be able to actually shop there, kwim?

Lynn (Walking With Scissors) said...

Hey, anytime! :)

I like the idea of the two price points also. Good luck with the revamp! :)

Mags said...

While I love getting a smoking deal, I do think you should adjust your prices. Your things rock and I know you put a lot of heart, soul, sweat and tears into your pieces. Hard to put a price on that! All that said, I like the idea of the two price points.

Darla~SassyHomemaker said...

I'm not an expert on etsy but I'm a volume seller on ebay, so I have one suggestion on shipping/handling charge for second++ items. That's maybe where your fees are hitting you hard? --- Just a guess based on what I can see.

One thing to consider is raising the cost of shipping/handling on your second++ items to cover the cost of the fee etsy charges you vs raising your prices. That may not fix your problem 100% but it's a starting place to jump from.

Good luck!

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