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Lull in sales after raising prices?

Howdy everyone!

I recently re-evaluated, did tons of market research and raised my prices in my shop. I think my prices are still more than fair for the quality and work that goes into my hats. However, I have definitely seen a drop in sales and views. I was nervous to raise the prices to begin with and now I am reconsidering the whole thing. I would hate to sell myself short, but at the end of the day, still need to feed the fam.

Guess I am just looking for some honest feedback of my shop, thoughts or advice.

Thanks in advance.

52 Responses

people want cheap. I raised my prices last year to make a living wage, my sales stopped and didnt pick up again until i lowered them again. and added free shipping.

yes all that take of charge what you think you should get paid, blah blah blah but the market sets the price not "what you want to be paid"

plus if i sell with my current prices and then i get lots of customers the can actually feel and see the kouture crochet difference so that when i raise them again they wont leave.
You're absolutely right, Kouture Crochet. Thanks so much for that. I do get a lot of repeat customers and that is a great angle to view it.
I have another shop in which I raised my prices and I actually got more orders. I think buyers were looking at it more seriously and I had more money to re invest in better product :)
But this shop (the cheapie one) makes more sales on average.
With the new hat craze, I also have tons of new competition which I am sure is lending to the little drop. However, isnt that all the more reason to keep my prices raised since I have the experience and quality? Confused.
People who want cheap aren't your target market. Your items are a specialty item that not many people will be searching for, so it's not the price that dun it.
Mine dropped for awhile, but slowly came back up and are now better than ever. Stick with it and get paid what you deserve. Then have a annual sale around the same time of year, those comebacks will be watching and then they will buy if you've gone out of their price range.
Thanks for that, Anja! Im so glad to hear you're getting everything you deserve!! Being able to do promotions and sales was something I couldnt even think of doing before...
I say put the prices at what you think is fair for your time and talent and go for it. I always think of Apple computers. I have had them for years and don't even consider a different brand because I'll pay for what I like. The same concept goes in any industry. Do not compete on price only - it is a losing game.
It also gives you the opportunity to invest more when you want to expand.

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