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Welcome to my sewing, historical reenactment, and CosPlay blog! Here on this blog you will find all of my random thoughts about sewing, the SCA, manga, anime, CosPlay, costume making, embroidery, sewing historically accurate Japanese costumes, and my fandom of Lord Sesshomaru whom I CrossPlay as.

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Thursday, January 7, 2010

Etsy RE: Your thoughts on raising prices?


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Home > Community > Forums > Business Topics > Your thoughts on raising prices?
1 post
Your thoughts on raising prices?
EelKat
EelKat says:
I currently sell small 6" to 8" tall goddess dolls, though other items will be added later. I'm just getting started here so I decided to focus on just one item to start out. Anyways, I was listing them at $24 each and selling nothing.

After talking on a few home business and work at home mom forums (I only just found the Etsy forum this morning so I hadn't asked here yet) it was suggested to me that if I raised the price I would have better sales. The theory being that a higher price tells the customer they are getting a better quality item.

So, I raised the price to $28 and immediately sold two dolls. Since than though no other dolls have sold.

Asking advice again, this time I was told to raise the price again, but to do it differently this time around. This time the advice said to offer free shipping, so that the customers perceive that they are getting a sort of discount. However, at the same time, I was to add the shipping cost to the price of the doll, thus I still get paid the same amount, but that the customer thinks they are getting a higher quality item AND saving money by not paying shipping.

In other words, if I was selling a $20 doll with $5 shipping, I should change it to a $25 doll with free shipping.

Okay, so this morning I changed all of my items to $32 each with free shipping. Now I'll wait and see what happens.

But while I'm waiting, I was wondering if any one else has had any experience with doing this. (Raising prices in an attempt to boost sales.) If so, did it help your sales?

One person suggested I double my prices, thus selling each doll for $40 - $60 price range, because that would boost the "OOAK art doll" feel to my dolls. That would translate into $10 per inch of doll! I'm not sure yet if I dare put the prices up that high or not. But I searched what's listed by others and found that $50 to $75 is not uncommon for 6" tall dolls here on Etsy! 

Would I actually sell more dolls if I doubled my prices into the $60 range? It seems like I'd sell even less, but than again, maybe that advice is correct. Maybe I would sell more if the price was double. I just don't know.

What do you think? What would you do? If it was your shop, would you raise the prices that much? Have you ever drastically raised prices and ended up with better sales? Do you think this is good advice or bad advice?


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