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Does having a sale work?
I've had many successful sales (and some not so successful) and I've found that surprise sales (with lots of promotion) work better than a periodic sale. You want people to feel a sense of urgency with buying, so make it a few days or for a short period of time.
Etsy on Sale works MUCH better for garnering sales than just a coupon code, I've found. Also what percentage you take off matters. It should be at least 20% (to gain interest) but no more than 40% unless you're doing clearance.
Make sure to promote! Facebook, twitter, etc.