Monday, June 23, 2008

Price Revisions

Now that some of my items have been selling on Etsy, I have seen that I need to raise my prices. I hate doing it, because I want to keep my items affordable. But there are all these fees to consider on top of my materials and time costs.

So I've come up with a plan. Most of my sales have been custom order bulk requests. I've only listed my ear hooks by the pair, with the option of requesting a bulk listing. I'm going to have to raise the price of individual items, and do a discount on bulk orders.

How things are currently:
one pair Curly-Q ear wires: $2.50
Shipping: $2.00
---------
Total: $4.50
Fees: Etsy Listing Fee: -$0.20
Etsy sale fee: -$0.09
Paypal Fee: -$0.43
Postage: -$1.34
Delivery Confirmation: -$0.75
---------
End Total: $1.69

Hardly worth my time and effort and materials costs. Now I could leave out the Delivery Confirmation, but that's my security. I'm currently using packaging materials I've had around, but when I need to buy more, I will have that cost to think about. Right now my shipping charge doesn't cover it. And I had no idea how much paypal was going to charge me.

Previously, I have been selling my ear hooks retail at prices of $3.50 and $3.00 a pair. I get 60% of that: earning $2.10 or $1.80. Not a whole lot either, but OK for retail.

Revisions:
Single pair ear hooks at $3.00
Postage w/confirmation: $2.50

Custom order Bulk discounts: after the first item, $0.20 off each additional item.

No comments: