Before we talk about combating underpricing on Etsy I need to ask you a question. Have you ever been scrolling Etsy or Instagram and felt annoyed by the other makers in your niche who are severely underpricing their items and wonder how you could ever stand a chance when people are so willing to sell so low?
It is very likely that you have.
I hear it so often, from so many people that they simply ‘can’t compete’ and feel discouraged about it.
You likely know enough to spot a ridiculously low price in another shop, so even if you aren’t completely positive of someone else’s costs, or even of your OWN prices, you know enough to know when there is just no possible way that a price THAT low is worth the work.
SO what to do about it? That’s exactly what I’m talking about in today’s episode.
I think the answer might surprise you!
In this episode:
- Combating underpricing on Etsy & what to do about underpricing in your niche
- Some wisdom from my business fairy godmother, Marie Forleo
- What underpricing actually indicates and what it DOES NOT indicate
- The surprisingly simple solution to underprcing
- The perils of underpricing. price matching too low
- Pricing is more than math: what to consider so that you CAN price at the rate your formula tells you to.
If you are struggling with pricing your work, or want more clarity and confidence surrounding raising your prices so that you are actually profitable, be sure to check out The Pricing Workshop – this is a course specifically for makers in business that Janet from Paper and Spark and I collaborated on and it covers everything from the science of pricing to the art of pricing. Listen to this episode to find out more about the elements you need to consider when pricing your work so that you can charge appropriately and escape the race to the bottom you see happening around you.
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*This post is written and published by The Merriweather Council. The Merriweather Council is not affiliated with Etsy Inc. Etsy is a trademark of Etsy Inc. We write about Etsy, from our own experiences, not for Etsy.