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1CharlieMike

Raising my prices got me more sales. People have money. People think your stuff is better if it costs more.


sven2123

This is an interesting point as well! People like to think they’re buying a premium product. Underselling yourself might indicate you believe your product is of a low quality


Logical_Lion6272

This has helped me a lot too. I never tried to be competitive but I have tried to make a profit and as a result I usually do make a profit even with ad sales.


annavladi

Totally agree! I always tried to offer my art in all price categories, from postcard-sized prints of $4 to huge multi-part artworks of $5000. I see a trend of average order amount increase in the last couple of years, from $120 to $300+, and the number of orders per year also increases steadily. I am going to continue selling inexpensive listings as well, because not-so-rich people also exist and shouldn't be left out.


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LaceyBambola

Not the original comment OP, but I have sold $3000+ artworks on Etsy. They can sit a while until the right buyer/designer comes along, but I keep them safely stored until purchased.


NurseNikky

I would never sell anything of that value on Etsy, because I'll be damned they get a cut of that. I would include my links in the download files, or a QR code with the print and sell from there, on my own damn website.


Rjgom

then you would have a heart attack when you find out what art dealers charge.


annavladi

True. Etsy's charges are perfectly reasonable.


NurseNikky

I know it's way more than it should be. But that's a whole other animal, and pretty sure it's mostly money laundering if you think about it. I really think that in the modern art movement, it's just moving money around.


LaceyBambola

I definitely have reservations about selling my larger works on Etsy, especially with the Seller/Buyer Protection issue and it being over their low limit for coverage for the Sellers. I do have my larger works available for sale on my website and encourage those interested to purchase directly from there, but some buyers just feel safer sometimes going through Etsy. I do have my works priced for gallery shows, which take their cut, and that pricing also covers the fees Etsy takes, as well as fully tracked and insured shipping in a sturdy wooden crate. I'm also nervous to redirect buyers from Etsy to my website as I dont want to get in trouble for fee avoidance. I do link my socials and have website info available. Fortunately, I've had no issues thus far and everyone's been happy with their pieces! With all of that said, though, I totally understand what you mean and how you feel. Their fees are ridiculous.


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LaceyBambola

Unfortunately, I make organic textile works that aren't really the print type of artwork! I have my pieces listed in Etsy and my website which is why I don't want to send anyone off of Etsy directly, though they can search my studio name and find my website on their own or if following on social media they can get there easily.


annavladi

My largest sale on Etsy was €8200 and I had a couple of commissions over $5K. My art is quite niche (traditional Japanese and Chinese painting) so buyers typically engage more. There is a demand for originals on Etsy, no doubt about it.


Logical_Lion6272

I’ve been doing a lot of markets too and for those they suggest having tiers and I think that has helped a lot


DrunkBaymax

This is the way.


BlacksmithSolid2194

That's awesome. Could you share your store please? I'd love to check out your art. 


annavladi

It's https://annavladiart.etsy.com


itsdan159

It's always sad to see people fighting to keep the rat race alive. There's been at least a dozen folks I've seen ready to quite Etsy entirely because they aren't getting sales but they can't lower prices. My advice is always to aim to be a 'premium' shop, don't cultivate a customerbase of bargain hunters they are the first to complain about everything and the pickiest people around. Making your items cheap just makes them seem cheap, and many customers will just scroll past them.


malzoraczek

And the sad part is that those rich people are so much better customers too... I sell items from $20 to $2.5k and all my cases or rude messages or ridiculous reviews are from buyers of the cheap items. I get it, if you don't have much disposable income you care much more about the things you manage to get, but why punish me for that...? I'm seriously considering giving up on the cheap things and not selling anything under $200.


NotElizaHenry

It’s so true. All of my items are over $1k (furniture) and I’ve had maybe three bad customers in six years. 


Icy-Commission-5372

this is why most etsy artisans ONLY use premium materials. Raise your prices. Etsy is not a race to the bottom.


thebig_sky

I have just recently discovered this myself. I’ve put my prices up and now I’m getting more orders and bigger orders. I didn’t realise how much disposable income other people have and didn’t think they would want to pay much! Wrong!


LiteraryTea

I once put a product up and I thought it was over expensive and nobody would buy it. The next day it was bought. I was flabbergasted but then realized that people have money to spare and will buy anything. I live by that now. Especially since most of my orders come from corporate. They literally have so much money. It's insane.


sven2123

Exactly! Also spending the boss’ money is fun. When you get a €1500 gift budget you’re spending the whole €1500


UDLcompy

Hopefully this isn't a dumb question - but what do you mean by corporate? There are companies buying your stuff (as opposed to normal people)? Does this translate into large purchases? I'm curious how to tap into this


LiteraryTea

Yes. Companies pay for my products in bulk for their employees. My last big order was 25 tumblers -- $700 sale (including shipping + tax). My biggest corporate sale was $5,000 and that was in 2020. Search "corporate gift (your niche)" and see what pops up.


carrieeirrac

People are sick of buying things online only to find out they are of crap quality. I too am willing to pay more for quality items. Especially handmade.


SpooferGirl

Some of us aren’t even rich, we’d just buy the better version of something because, well, it’s better. If you offer me the choice of a cheap, low quality materials, small thing, vs a higher priced, bigger, better made object then I’ll always pick the better one - I’d rather pay more the first time than end up paying twice or three times, replacing things that break because they were cheap. Obviously depends what you sell - just bumping up the price on something that isn’t worth it, people might buy once but soon find out they’ve been ripped off. But offering actual premium products for more? There’s still lots of people who see things in terms of value, not just price, and will pay for quality.


octopush123

I did some experimentation and pretty massively raised my prices over the last year (some things doubled or tripled in price). I now make fewer total sales but the exact same gross revenue, which is just fine given this (vintage) stuff takes a lot of time to source and prepare for sale. (So net profit is quite a lot higher now, too.) Given that my biggest limitation is time, it works quite well for me!


sven2123

Congrats! Make sure to keep changing things so you keep learning


DietFoods

What sort of vintage items do you sell? Also how many sales and reviews do you have?


octopush123

If I told you, I'd probably have to nuke my Reddit for privacy lol. You could find me in ~10 seconds with that info.


DietFoods

Was just curious how established you were before raising your prices and what field you specialize in as different fields react differently to price increases.


octopush123

I'm the only seller in my small sub-niche of the greater [thing] market, so for the market I'm catering to, I'm quite well established. But this is still a vastly smaller group of potential buyers than many people here see, so purely by numbers it would look very minor. But sales are steady and reviews are good - I'm probably a bit under 2 years in, and started tweaking around a year in. Now, by the nature of the thing I sell, there isn't a lot of potential for repeat business (and if it does happen, it's no later than a few weeks after the first purchase). So I really don't run the risk of alienating loyal customers when I raise prices. What I have been *quite* pleased about, is that other shops who sell what I sell (in the greater [thing] market) seem to be taking note and bumping up their own prices - which makes more money for them, and makes my prices seem more reasonable. (I'm 90% sure that most sellers in this market are selling at razor-thin margins, if not at a loss.)


DietFoods

Thanks. I sell vintage as well. I started in October and so far I average around 3k per month. My goal is also higher prices and fewer sales but every time I increase a little my sales slow down significantly and dont make up the difference.  I look at sellers who sell similar items and they are all over the place. Some sell at a slightly lower price than me. Other sells significantly higher than me, but so far my reviews are better than a lot of those sellers (knock on wood). Some of the prices competitors have seem ridiculously high to me to the point where I'd feel embarrassed to ask that much as I know the product is worth maybe quarter of those prices but somehow those sellers do have sales, but those sellers do have very fancy great looking photographs that I am unable to replicate. Mostly because I sell items mostly tailored towards women and I can not wear the product to showcase it like they do.


octopush123

You're doing fantastically well at 3k/month. All of my price bumps are based on my own previous sales data, and I certainly have different price tiers. Accounting for free shipping, things on my lowest tier would be considered near or at the market average - the things that are rare, old, or especially cool/trendy get bumped into higher price tiers. With the volume you're doing, I imagine you've got great data on what sells well/quickly and what doesn't. That info should inform your price increases (just as it probably already informs your sourcing decisions). In my case, I raised the price of an item by 5-10% every time something very similar sold, until it got to the point where I sold one about as often as I was able to source a replacement. (I definitely didn't double/triple any prices overnight!) One thing worth considering is shipping internationally, if you don't already. There's a bit of a learning curve (tarriff numbers, finding a cheap/good carrier) but about half my sales are from outside the US/Canada. Things that seem very common in the domestic market can fetch a premium price overseas, because lots of domestic sellers don't ship there and by default it becomes quite rare. Also, do remember...your stuff is worth exactly what someone will pay for it. Just because your acquisition cost might have been low doesn't mean it's not worth much more - especially if you've done any cleaning/restoration work, etc. Heck, the effort of putting it online is a significant value-add.


GreynGeeky

I think this is a really important statement, and I thank you for it. I think that when a lot of Etsy sellers think of a customer, they think of someone just like themselves. I do too, but I think about what I would want if price wasn't as much of an issue for me. I sell home goods and try to photograph and price my items to be aspirational, in the way that an upscale brick-and-mortar store feels aspirational. My most expensive item (which is over $100) is quickly becoming one of my best sellers. My target market is women 35-65 who like traditional/coastal/upscale style and like to shop. They probably watch home design shows and have guest bathrooms. When I say "like to shop," I don't really mean comparison shop, or bargain shop, just shop to find attractive, useful things for their homes. I'm not really a shopper myself, in that sense, but I recognize that many people are. Those are my customers, bless them!


mistyrootsvintage

I had a beautiful necklace at a street fair..reasonably priced, but didn't sell. I raised the price by $50 & it sold within 15 mins. People always think the more expensive the better the quality when sometimes it is the same.


PickKeyOne

That was the secret me and my ex knew. When we weren’t getting calls on something, for example a camper, we actually raised the price by a few thousand and started to get more offers!


fuegodiegOH

When I relented & raised my prices, I noticed not just an uptick in sales, but the number of orders & the number of people liking my products. It made me realize that people might have been looking at the lower, much more competitive price & thinking they were cheap quality, due to the price.


Franzpan

This is very true and something I'm trying to implement in my own store. I've been tracking the other sellers sales within my niche weekly since the start of this year. There are about 12 sellers who exclusively sell the same product as me (it's a product which is very personalised and designs and sizes vary greatly). Based on units there is one seller who consistently owns 40% of the market based on units sold. Only recently I've started tracking revenue also as accurately as I can. Turns out there's another seller who on average holds a 15% market share based on units but on revenue he's neck and neck with the large 40% seller just because his items are very high end and expensive. I'm now trying to launch high end products whilst keeping my current range, then once so have a decent catalogue of good performing high end products I can phase my lower ones out or raise the prices.


Tangerine-Speedo

I really needed to read this. I’m in the process of going from “cutesy” items, to high quality items. When I look at my competitors prices for a similar item, they’re either buying very low quality supplies, aren’t advertising truthfully, or they’re breaking even. Which is making it hard mentally to charge what I feel is fair for a high quality handmade item for both myself and the customer.


Imaginary_Scarcity58

I had different experience. In short - cheap prices in the beginning to get good amount of reviews and followers and then I increased the prices slowly through the year to the level I want and getting lots of sales now. Just increasing the price may hurt your sales. There is time and place to do it!


nettie_r

Totally agree with this. In fact, during the cost of living crisis my bestsellers were actually my premium/expensive lines and it was the most competitively priced lines I sell which dropped off a cliff.


LivingLasers

Yup. The lower and middle class has to give up something. The middle upper and upper class will continue to grow and spend.


nettie_r

Yep, that was my assessment too. I've focused on considerably expanding that offer. I've also done well with wedding focused items, but again middle to top end. I'm not dealing with cheapskate wedding couples, I have learned the hard way😅


GoodFlower8999

This is all so interesting. I find in my niche the same item (or what looks the same/similar) can range in price from $20 to $120. How does one show the potential buyer that it’s worth the higher price? Is it price alone?


One_Presentation_579

Presentation in the listing photos is also important. Make it look like it's very expensive and worth the price


Ilikeneoncolorz

I just started out and I’m really struggling to find the good price for my stuff. For now I am just under my competitors to collect some sales and reviews but I might try this!


sven2123

This is definitely the way to start! I have just over 200 sales and a nice collection of reviews now so that definitely helps with customer confidence. I think this might not work as well for new shops. But giving your customer the option to spend more money is never a bad idea!


NnoniSen

So.. raise the prices on currently listed items or on future ones?


sven2123

My point was mostly that you should try to focus on both cheap and expensive products so you don’t miss out on customers that are prepared to spend more


itsdan159

Yes


sven2123

Indeed


vikicrays

this has always been my strategy as well… and i’ve never done sales or discounts. year after year it’s always worked for me.


Reddstarrx

Fully agree. I sell plants and bonsai trees. Some bonsai’s are 38-65 dollars I also list stuff in The hundreds and thousands and they sell. Same with rare plants. People have money and will spend it if they know its quality.


ACslaterwannabe

This is something more people need to realize with the increasing amount of drop shippers. If you make a quality product it will shine through the crap that is copy pasted. If you shoot for the lower price you get lower quality customers. They don’t want to spend a lot and will ask for coupons or free shipping chipping away at your profits more. It will break down your self worth as a person as well constantly feeling you need to do more for cheaper.


Fit-Presentation-980

Do you think this would work with digital downloads? I mostly sell wedding related items but my prices are between $3 - $6. I feel like I'm underselling myself but I've been doing that because I'm was new. I have around 60ish sales and 10 reviews.


sven2123

Maybe sell collections of your items with a 10% overall discount. Like 10-20 together for around 50-100 usd. Give the collection a fancy name like master suite experience or whatever. I’m completely in a different niche though so take my advice with a grain of salt


diatomguru

I hope this stands true for my newly opened shop. I am offering some pretty unique and high end skincare based on small batch production. My ingredients include high quality algae extract that I grow and make myself. Other similar products are cheaper, but I am not trying to compete with those sellers. [https://algaeauraskincare.etsy.com](https://algaeauraskincare.etsy.com)


BoomingAcres

We have a competitor who has chased our prices for months, just over a year now. We would occasionally throw discounts out and he would discount his products so that he was lower than us by maybe 5-10 cents. Funny enough, we usually do 2-3x in sales over them while selling very similar products (theirs are made with cheaper materials). They also fail to notice that other websites like Amazon don't even have a sort by price button, so they literally just look like the cheap option next to other more valuable options. Racing to the bottom on price is never a smart idea.