How much should a handmade card worth?
Recently my Etsygreetingsteam discussed about pricing our cards. There are so many competitions out there and all of us do want to make sales. Unfortunately, some of us are willing to sell their cards so cheap. I'm guilty for one.
But do we really feel satisfied when we makes sales ? Do we honestly feel that it should worth more than that?
Today, as a family, we took a stroll of Toronto Downtown underground simply to familiarize ourselves with the area. I could not help but to stop at this stationery shop, curious to see the cards that they carry. And when I saw the prices, I was shocked. It ranges from CAD$6.75 and up all the way to CAD$10.00. Gosh! I feel that my cards are worthless. I asked my husband to take a look at the cards and told him about the prices. I asked how he would compare them to my cards. Without hesitation he said, "of course yours are much better. No doubt about it!" *relief* I felt much better.
I know that deep down in my heart that I undervalue my works. Many people have told me that they are worth over $4 each and yet I was too afraid to increase my price.
I look at the details of my cards and how much time I spend on every card, I feel they are worth than $3.25. Each is one of the kind. Each is made with love.
So here is my plan. I need to get rid of my cards inventory because they are in Indonesia and I'm here in Canada. I may have them on sale. In the meantime, starting next week I'll start making new cards and build my inventory here. Once I'm ready, I'll make a switch and sell the cards that I have with me. I'll increase my price. It has been long overdue. We'll see whether it's going to hurt my sales or not at that time.
Sounds like a good plan?
Your work is very beautiful! And totally worhty! :)
ReplyDeleteYour cards are worth a lot more than that! Most people can walk into a store and buy a Hallmark card and not blink at $4 for a simple, folded, mass-produced printed card.
ReplyDeleteThink of how much cuter your cards are!
Your embellishments are soooo adorable -- they're kind of a mini gift and a card rolled up into one.
I say definitely raise your prices! I think you'll be surprised at how little this affects your sales.
Sometimes having a higher price improves the perception that people have of your product (if it's priced super cheap, people may think that it is kind of cheapo) -- I've heard of instances when someone raised their prices and this increased sales!
Anyway, it can't hurt! Good luck!
It is hard for me to price my cards, because I am in England and I have to rpice in dollars. The exchange rate moves every day and I can;t keep up with that! I understand £s, I have a feeling for £s, but I don;t have that inner understanding, as it were, of $s.
ReplyDeleteIf I price my cards at $4, inside myself I secretly think £4.
It is quite a hurdle for me to use a higher number in dollars than I would be comfortable with if it were £s.
Does that make sense?
I should increase my prices; some are only $3. (That is only £1.81 today.)
I don't know what cards are priced like in America - I live thousands of miles from there.
I increased my prices after the first 4 weeks on Etsy, over a year ago now. Sales have been more or less steady.
The other aspect is that 90% of my sales are to America and so one has to remember the postage price; people might be willing to pay $5 for the card but add in the actual cost of postage of almost $3 and they are not as willing.
Sounds like a good plan! :-) You do such nice work - your cards are worth every penny!
ReplyDelete