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Topic: Yet Another Pricing Question  (Read 466 times)
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ADDCrafting
« on: January 29, 2012 08:24:52 PM »

So I've seen the FAQ about pricing your work, and I've read over other people's discussions about how to include your time in the price of the product. My problem is dealing with products I already have listed and have already sold, which brings some issues.

One of my most popular products is a rather niche item. I sell pacifier clips for adults who practice age regression, or as I like to call them, "big kids." I first thought this would be a good idea for a product because I knew prospective customers who said they had problems finding long enough pacifier clips, and when I tried googling it myself my searches came up pretty empty. So when I set the price, I was basing it on smaller baby sized pacifier clips. I didn't want to price them that much higher than those because it's not that much more fabric and it doesn't take me any longer to make a big one than it would a small one. So I've priced them around $7.

Now someone else has started selling pacifier clips for big kids on Etsy and they're selling theirs for $13. But they sell ones that are made from ribbon, and mine are made with fabric (way more sewing involved). They haven't sold any individual clips on Etsy yet, so I can't say for sure that the market supports that kind of price. But I'm starting to think I should raise my prices. I don't feel I would be able to do any kind of drastic price increase, though.

If I went ahead and raised my prices do you think prior customers would be turned off? Or would that whole "perceived value" thing actually end up helping my sales?
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« Reply #1 on: January 30, 2012 02:23:39 PM »

I think you'd be fine to raise your prices.  Will some people scoff? Maybe. But it's not the craziest thing in the world for an item to go up in price, and if it's something you can't find many other places, most people will probably have no problem with it.
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ADDCrafting
« Reply #2 on: February 02, 2012 10:46:04 PM »

Okay. Thanks jungrrl. I'm always nervous about changing my prices if my material costs don't go up. Maybe I could introduce a price increase along with a promotion so that people can "adjust" a little bit more...

I'm so bad at this pricing thing. I have plenty of other things where I'm not really counting time, but that's because no one's going to pay $10 for a crocheted cat toy. >.< It's like I have to pick different pricing methods for each of the things in my shop. The pacifier clips are one of the areas where I think I actually could price based on time and be okay. Plus, that would give me some cushion for selling them on consignment (something I'm hoping to do now that a certain boutique has reopened).
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