Is a person better off discounting/pricing low just to sell items....or pricing them at costs+time and risking that items won't sell....
My question isn't meant to be "about me" -- I don't base my self-worth on selling/not selling something. It's also not meant to be a price-setting discussion, not exactly, anyway. It's more like: what's your opinion? lower prices to get sales or keep prices and wait?
If items are seen as priced too high, people won't buy them because they want a bargain; but if prices are too low, people think the items are not worth much and won't buy them. Or is it just that people aren't buying right now? Are my items not "good enough" (I believe they are!)?
Mostly I make things because I want to be creative. But I have some items online and did a small craft show over the weekend. So far, nothing's sold. I'm worried now that the prices are too high. I'm also worried that dropping prices will make the items seem less worthy somehow. There's another show in two weeks and I'm considering price changes and stocking different things, but not sure what. Do I make more of the "cute" things that haven't sold? Try something different? gah.
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What are similar things on etsy going for? I find that to be appropriate for pricing, sort of figuring an average. Also, a friend recently offered to buy five of one thing, so I gave a pricing discount - maybe something to consider if someone seems interested in multiple items but doesn't want to drop that much money on something that seems "small" to them. Most often in cases where people see it as small, they don't understand the time or materials that go into things. Also, I'm fairly certain that IRL craft shows need not have fancy fabrics like Amy Butler - people just don't know about her. ;)
I wouldn't lower your prices but agree with Jennylou about the discount for multiple items purchased.
My rule of thumb is that I want to make sure it is worth my time to make something. If I feel like I'm not being paid what I'm worth--just for the sake of having something priced low-- it makes it feel like work and that's not what I'm in this for.
Thanks for the comments. I agree on all points, especially the AB-type fabrics. They're nice to work with, but non-sewers usually don't know what they are (more $$ :-) mostly). I'll just hang in there!
Well for the etsy thing, you haven't been selling for very long on there. For the IRL stuff, I say stick to your guns, but be sure to pack some small cheap things too. My crochet stuff was priced higher than some other stuff, but I know how much time I put into an item. It's tough, but you get used to it.
I agree about sticking to your prices. Get what you're worth out of it. Be patient and offer several items in different price ranges. Having the $5-$15 item is very important for quick sales. Make people feel like if they look through your products, they can find something in their price range.
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