The 1 Minute 'Reverse Pricing' Strategy That Doubled My Store Sales

[@AezlyndWanderin]

This reminds me of a test someone once told me they did on Etsy. They made 20 identical necklaces and placed 10 of them up for sale for $25 + S&H and the other for $35 with free S&H ($10 was her average S&H cost). The $35 with free S&H sold out within a week while none of the $25 + S&H sold at all. So she discontinued the $25 listing and used its inventory to restock the $35 listing. Customers would have ended up shelling out the same amount of money for either listing but one of them came with free S&H and that’s what the customers cared about.

[@salima1777]

Etsy is less likely to push products with shipping separate from the price and they've have been doing that for a few years

[@AezlyndWanderin]

@@salima1777 that makes sense and it means that if you determine that shipping should be separate you need to push the product yourself .

[@manuelrivera6778]

@@AezlyndWanderinit could also be that customers prefer to meet their needs with less problems. They want what they want asap.

[@AezlyndWanderin]

@@manuelrivera6778 true but free shipping doesn’t necessarily speed up anything.

[@kristinunpoisoned]

Great tip; thanks! I also wanted to say I really appreciate the lack of distracting background music in this video.

[@mellomakes]

Me too 😊

[@clairebishop9835]

A friend of mine was told her water colour paintings were priced too cheaply. She was unconvinced but just for one week, doubled her prices and guess what? She sold more. She was told that folk feel happier buying art that costs more as it has a touch of ‘snob value.’

[@melsky]

If you sell prints of your work you can sell the originals for more. I think that appeals to people because they like the idea that they’re owning the original when other people are buying cheap copies of it.

[@Lissbirds]

I used to work retail at a gift shop a long time ago. Most of the products we sold weren't anything particularly high quality, but if we were having trouble selling something, we would raise the price and it would sell. Shoppers think a higher-priced item is worth more and that makes it more desierable (though in our case, the products were just made in China and the store owner would make us peel off the "Made in China" sticker, which I found out later was illegal.) The store was located in a strip mall that attracted affluent shoppers, so I think that was also part of the equation as well. The same phenomenon happens with taste tests--there's been experiments where cheap wine has beaten expensive wine in a taste test because the testers were told the cheap wine was expensive, so their brains played tricks on them and made them think the cheap wine tasted better. So much of retail is dependent on factors outside your product, like perception and consumer psychology.

[@SunshineCatwoman]

I've always found that attitude (things that cost more being perceived as better) to be incredibly stupid. But hey, if people have money to burn and don't mind wasting it, so much the better for merchants. Personally, I prefer a good bargain.

[@Lissbirds]

@@SunshineCatwoman Oh, I agree for when I got shopping myself. But some people like to throw their money around lol.

[@CharacterDesignForge]

Just raised all my enamel pin prices to $12, we’ll see how it goes!

[@silverbeast730]

must update , im curious how it goes. i grew up really poor so i cant understand this at all. i read the product description's to get my moneys worth an only do sales so i cant imagine buying cute things at such a high price because priority is to save and minimize spending .

[@iheartherbs]

I would do $20 flat with free shipping and handling ❤

[@AB-ws4kt]

⁠@@silverbeast730I grew up poor too, so I get it. But I can see how the rich have the privilege to buy art, and often to them a higher price means higher value. I worked at a club with a few high rollers and you could always hear them bragging about how much something cost - which is an extreme but think about it. Would you be more or less likely to say, throw something away, if it cost you more? Usually you’d hold onto that thing cause it cost you so much, so yeah it does then mean more in a weird way.

[@ToBeeOrNotToBeHoney]

Very well done video. I am a beekeeper and we have a similar problem with beekeepers rushing to lower their prices and harming their own businesses. My group started charging "What we felt the product is worth" last year and were very surprised to see that people are actually ready to pay a higher prices knowing the Honey is locally and ethically harvested by beekeepers who are more concerned with the health of our bees and less concerned about competing on price. We have sold honey at venues where other keepers were selling for much less, and people were more interested in buying from us once they heard our story and why we felt our product is worth the price. We never bad mouth the competition, and when people complain about our prices, we actually refer them to the booth with lower prices with a smile. Stand by your value, Value your self and your product and others will also.

[@Anthromod]

Yes the Veblen effect. I do find it hard to judge how much something should be worth when you can see the price of the elements that make it up. Have to hammer into my brain that the skills learned in order to make it are one of the places the value comes from.

[@shoiku4734]

When I sold physical items, I would price down and up and down depending on my mood & Luck. Pricing is not necessarily the only thing that gets an item sold. I would drop to the lowest price and wait, then shoot it up and wait. From people who ask for discounts, it then became easy to set a more favorable price that's also higher than my lowest price.

[@maletu]

How would your price experiment compare with a similar product selling at a level price BUT with increasing sales? Your listing was NOT staying the same: it was gaining more sales of the product and probably more reviews, both of which increase the customer's perception of value, and (if you are selling on a platform), both of which also drive the platform's algorithm to show the product more often. (And if on your own site, there's SEO and whether anyone has put the product on Pinterest or posted on Fb or etc--all of which increase with longer time and previous sales.) >>>I imagine you are right about increasing prices leading to increasing sales, but you have proven far less than you imagine with your experiment, because you have not controlled for these confounding factors.

[@Azaleahsney]

Question do you make a lot of money from your courses too? Asking for transparency since many claim they make all their money just from selling their art alone but then it turns out they have other income that they do not let their viewers know or try to sell the false illusion of a cozy small business owner.

[@scholas_creative_space]

Most likely. I also don't like when creators say they make money from their shop but they have a course and they earn from KZbin plus sponsorships

[@jackie_treehorn2736]

Hi I am an artist who did mais course a few years back. 64% of my income comes from wholesale orders and 10% comes from helping others on patreon. I am writing my own course on how to use etsy but I am doing just fine without courses and patreon being my main income. Diversify as much as you can...teaching and courses is just one arm of your business that you could use....plenty get results without them. I am also looking into licensing my work and creating products out of them. there are many ways to go with it. if you look into mai she was a successful biz owner before she started her courses so shes not just grifting.

[@Azaleahsney]

@@jackie_treehorn2736courses are iffy to an extent if your actually seeing results form clients. I personally don’t like them bc what most courses do is say what free KZbin videos have been saying for years, but to sell the illusion that they make money just from selling art is a scam.

[@Azaleahsney]

@@scholas_creative_spaceright they have passive income from other sources but claim they ONLY sell art, like Kelsey Rodriguez, she got called out for always talking about how to make money as a ‘poor starving artist’ when she doesn’t even make money from art it’s from sponsorships. Now that she got called out she ‘changed’ her business plan.

[@princezzpuffypants6287]

I cannot find this creator's store at all. It appears as though ALL of her income comes from "education". I find this story dubious, all things considered...

[@DaryaUliceva]

Great video & info thank you. My question is if your other items all stayed the same price, and this one randomly jumped prices (that's correct right?) How that worked? I would expect suspicion of the random highly priced necklace and also since it's the most expensive, based on what I've learnt from your previous videos, don't customers go for the middle priced item? Where was this one positioned if that made a difference? Thank you in advance

[@jennajacobs3700]

It makes for a product that is already selling well. Does it work for products that don't sell as much?

[@mkorpalart]

I love your edit of videos, may I ask what software you use? ❤

[@cdarklock]

Something to remember about any product: you are not your customer. You can tell, because you MADE the thing your customer wants to BUY. If your customer was you, they would just make it themselves. They don't, because they're NOT you. They do not know how to make it themselves. They do not have friends who can teach them how to make it, or who can make one for them. The people you are selling to NEED to buy what you are selling, because that is the ONLY way they can get it. It's not about the tradeoff YOU would be making to buy it instead of make it - your customer's tradeoff is to not only choose to make it, but find a way they can learn how to make it, and invest all the time and energy and effort necessary to do the learning. It's not about YOUR two or three hours of labour. It's about your customer's two or three MONTHS of labour.

[@edieandmemiller4649]

This is an overall assumption based on one item's sales, but you did give the caveat that quality matters. I'd like to see this experiment repeated on several different items to see if the outcomes are the same. Also, this was an item that was already selling well. I agree that it's worth a try to see how it goes, but also no guarantee since there are so many factors to consider. I'd like to see this experiment repeated on several different items to see if the outcomes are the same. Overall, great thinking and experimenting. Thanks for sharing!

[@sofianavarrete1311]

Your presentation is great, thank you.

[@Chris-ft2yx]

this is why i get all my shit from the thrift store 💀

[@RayShine879]

I would most definitely buy the more expensive and unique item on something like Etsy because I expect higher quality and longer wait time. I can’t say the same for Amazon tho useless it’s Amazon handmade but it can hard to differentiate the handmade vs drop shipping, print on demand, and resells on there.

[@sirguy6678]

Excellent video!

[@xBine92]

Would you say this could work for art prints like stickers, sticker sheets, bookmarks or button badges too? 😊 Anyways, really informative and interesting video, thank you.

[@iheartherbs]

SOME PEOPLE WANT THE MOST EXPENSIVE ITEMS BECAUSE THEY BELIEVE IT HAS MORE VALUE. BEING THE CHEAPEST ISN'T THE BEST WAY TO ATTRACT VALUED CUSTOMERS.

[@patty4425]

I’m new to Etsy. For now, I’m selling handmade political bracelets. There’s a lot of competition, but I noticed that when the price goes down, sales go up. I’ve been adding other non political items slowly.

[@LearnGermanwithMarzipanfrau]

Thank you for sharing this with us.

[@brigittevandyk8914]

Thank you.

[@morthriel]

Would you share a link to your online store?

[@AQUARIUMFREAK123]

Should you ever make a video explaining the high cost for your products ?

[@joeshmoe9978]

Hopefully a Chinese company does not pirate your snow cone design and sell exact copies of it for $2.00 😯

[@hadleymanmusic]

9.99 to 9.99?

[@xantiom]

Inflation goes brrrr

[@calebplumleeoutdoors]

Yet another video trashing itself by selling a course at the end. We just all need to accept and admit that 99% of YT videos where the end pitch is "buy my course" are full of BS info (aka things that didn't happen)

[@austinwoodall5423]

Double the price means 3-4x the profit

[@SunshineCatwoman]

I absolutely despise the use of the word "maker" to mean "crafter." Who started this trend? It needs to stop, along with the use of the noun "gift" to mean the verb "give." Please help me reverse the dumbing down of the English language and use your words correctly. Thanks!

[@corasundae]

Maker is not a new word, so what is the problem?

[@waffels2901]

Yikes. It’s really not that deep, man. Nothing wrong with either of those words 🤷‍♀️

[@melsky]

Languages constantly evolve

[@amyreesor8128]

I think of myself as an artist, not a crafter. Many people feel that *crafts* are childish and not professional so they prefer other words.

[@dfalco2138]

“Gift” is defined in Oxford Languages as both a noun and a verb. “Maker” is also defined by Oxford as someone who makes something. I think your objection comes down to not enjoying the feeling you get when people do unfamiliar things. These are perfectly good uses of English words.

[@TanzieWillow]

I just raised my prices by $3 and my sales went way up this week. Maybe a coincidence, but we'll see.