I really appreciated Marvia's comment yesterday, and recommend you look at her website, discussing women.com.
Please look it over. I guess it's more important to leave comments about it on Marvia's site, but I'd really like to know what you think.
Pricing on etsy is widely varied. Very successful shops, like whimsiedots, whatshername, AprilAdriance, and sally1, have low prices. (Low enough I could afford to shop there.) On the other hand, I have wondered how much that works out per hour for them, and myself. Perhaps we're trying to compete with THAT store. Other shops , usually based in NYC, I think, are successful with higher prices.
One issue is inflation. When I hear that the average American income is $65,000 per year, my first reaction is to not believe it, and my second is to say, "We're selling our products too cheaply on etsy." But with food and fuel so high, how long are families going to buy from the internet and pay shipping? Shipping, of course, may be cheaper than driving to the mall. Perhaps the prices don't seem, on the coasts and in large cities in America, to be so high.
So I have to work out, in my head and heart, what I want to charge. Opinions?
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I think we all agonize over pricing. And as women, we want to be taken seriously (say high prices) but we don't want to take advantage of people (unethical). And let's face it, it's partly our nature and partly socialization, but we want to fit in with everyone else, which in selling terms means pricing similar to everyone else.
So we agonize over it.
I guarantee most men don't agonize over pricing, except in term of making sales. I can hear my husband now, "This is how much time it took, and what it's worth. Take it or leave it." Perhaps we need just a little of that attitude to survive in a competitive handmade business.
WOO - looks like I've written my own blog entry here! Sorry!
Interesting subject! Suzi
Thank you for commenting. Good point about men.
I'm coming to the conclusion that I have to start low, and then with more sales, I can (sneakily?) raise prices.
Pricing is so difficult for me. It's part formula, part instinct, and part confidence. When I first started making jewelry and went to my first shows, I heard over and over again that my pieces were underpriced, even though I was going by a formula recommended by my instructor.
Since then I've learned more about pricing and formulas, etc., and as I've gained more knowledge and experience, and therefore more confidence, I have raised prices.
Of course sterling silver and quality jewelry components aren't cheap, even wholesale! And prices on precious metals continue to rise.
I'm still not making a profit, but I hope to within the next couple of years as my personal style continues to evolve and improve.
Kelley, I shocked that you're not making a profit. At all? and your things are so good.
amazing...!
well written...
www.jdodyssey.blogspot.com
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