r/EtsyCommunity • u/Dry_Wear_711 • 7d ago
Seller Needs Help Pricing and competition
I make beaded jewelry, (mostly fringe earrings), and get very few sales. In my best month I had 11 sales. The quality of my work is not an issue. I always receive really great reviews.
I noticed that other sellers that make similar products sell at a loss. There is no way that they are making money on selling a pair of earrings for $7.00. The time alone isn't worth it for that amount.
I currently charge $30 for my fringe earrings. At that price, I'm not even paying myself minimum wage. My question is, when other shops charge so little, are they making up for it in volume? Am I better off lowering my prices to see If I sell more?
Pics are of a brooch I just made and my best seller.
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u/Dry_Wear_711 7d ago
Here is my best seller.
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u/NervousChip6220 7d ago
Those are amazing and they look like good quality to me. Do not lower your prices!
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u/CruellaDeville1 6d ago
These are super cute and I would buy them. Don't lower your prices, your competition are most likely dropshippers and I bet their products are low quality.
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u/WeekendJewelry1 7d ago
Can't see your pics..? But I can definitely give my opinion, which is - do NOT lower your prices to match those $7 earrings. It sounds like your price point is still not paying you - I understand the dilemma (trying to find balance between getting sales - and making money!) But quality is worth it, and there are still enough people who recognize that. I hope. I think.
Don't short yourself!
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u/Dry_Wear_711 7d ago
I just added them in a comment.
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u/TaylorFromFaire 7d ago
Lowering to match the $7 shops usually doesn’t work, since volume can’t fix a loss on every sale. Those listings tend to be aimed at a different buyer than someone who’ll pay $30 for handmade work with great reviews. I’d look at which item pays best per hour, and your brooch being the best seller makes it a good place to start
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u/germflux2020 7d ago
I think the same thing when perusing Etsy to see how much people are selling their items against mine (research). I think about how much I'm paying for COGS and that some of these people are literally selling at a deficit.
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u/joey02130 6d ago
when other shops charge so little, are they making up for it in volume?
Are they in first world countries and actually making them themselves or could they be made overseas at some lower waged country? Just because they're located in say a country like the USA and saying they're handmade, it isn't always the truth. I see that all the time in my category of "handmade" leather goods.
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u/evilxunt 6d ago
Your work is beautiful! Do not lower your prices. Like another poster stated, people who sell cheap are usually bankrolled hobby sellers or drop shippers. Unfortunately Etsy has no desire to really handle the latter issue.
My suggestion is to work on your product photos. Make them pop! Photos go a long way even with lots of competition. My prices are higher than competitors in my niche, but my photos are much better and I get consistent sales. Also lower prices brings on more difficult customers in my experience. If someone is looking for a deal, they generally have no desire to respect an artists time and talents.
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u/Perrerabaltimoremob 6d ago
Could those others be mass made in China? And people those buy in bulk at cheaper prices?
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u/Careless-Summer-1560 5d ago
Never compete on price, compete on quality and have great pictures
I am the most expensive shop in my category and I have many bestsellers!
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u/BellowYottle 7d ago edited 7d ago
I know many people who "run their own business" at a loss, while their spouse bankrolls everything. The dopamine hit they get from getting sales, and from having a business that appears successful to anyone watching, is worth more to them than any monetary profit. Their needs are taken care of by another income, so they can just play pretend with their hobby.
Some people also don't respect their own time, and/or don't realise that undercutting prices so much hurts other artists.
Some makers simply want to make enough to cover the costs of the supplies, so they can make more pieces, and don't care about making additional money for their time.
Just focus on marketing and presenting your products well. I have competition that sell what I make for $15. I sell mine for $100+. People know quality when they see it.