What should I be charging? - A study in ideas and pricing.

Merchandising and Pricing on Etsy…. My thoughts and practices…

Here goes……

Pricing is a complicated set of variables. The cost to produce, value added, perception of value, the unknown of customer need, I could go on and on... etc..The only basis for us as sellers, that we have to go on, is our cost (materials and labor) and our idea of what we could expect to get for a particular thing.

Lets just look at the range of prices for say... a car....from a few hundred dollars for an old clunker to many hundreds of thousands for a custom special. At each price point there is a car, that will serve the customer.

There is a lot of leeway for us after our cost is figured, and we decide what we want on top of that, the goal is to make extra $, not break even. For some reason, a higher price is expected to reflect a better quality item... yes...SO if we are really making better quality, with value added to the customer, shouldn't we be charging more? I have done a few "experiments" and the price that is on the higher end sells well and those at the lower end. I try to have a large range of prices to attract all the spectrum of customer needs. Those who feel they can't afford my most expensive items will still find something within their range with a little looking around in my shop...I think this is the dynamic at work... can't be sure 100%... needs more research.

☺I love Etsy!

Happy Buying and Selling on Etsy!