Folksy Ltd

Pricing and others underpricing their goods

(Claire Davies) #1

I’m in a dilemma. I am wanting to list lots of things on Folksy, but am a little reticent as the prices I charge elsewhere seem to be on the expensive side for here. How can I compete with people who are only barely covering their material costs, which seems to be happening a lot. I’m wondering whether it is worth the effort, if I am going to be undercut by so many other shops.

The prices don’t seem to be a problem elsewhere, and people are happy to pay it.

Anyone got any advice, or come across this problem?

(Bojanglies) #2

Don’t look at it as a competition.
If someone likes your things, and thinks it’s a good price, they will pay what you ask.
If they don’t want to pay it they can go elsewhere!

(Helen Smith) #3

It’s a common problem and very frustrating! The only consolation I can offer is that buyers who are aware of the time and effort that goes into handmade are often suspicious of too-low prices and will wonder what’s wrong with the item. Of course others will look for the cheapest but you’re aiming for the first lot!

(Bojanglies) #4

I love Dixie’s advice - it’s hard to swallow at times, and no, I don’t always listen myself… but maybe it will help!

(Lizzie Gillum, Bedfordshire, Uk ) #5

Price your goods properly. You are running a business!
If you have paid for Folksy Plus already, then you have nothing to lose by listing, as there will be no extra cost. If you haven’t, then perhaps you’d want to choose a selection of items to begin with…

Take (& edit) the absolute best photos you can manage and give several views of your products - maybe also of the making process (where it doesn’t give away any “secrets”). It’s worth using a good photo editing software and a decent camera (which doesn’t always mean expensive).

Make sure you fill in the information about your shop and a bit about yourself, your making process etc. Have a good banner and avatar.

Make it as clear as you can, with your photos, product description and information about your materials and proces, that you are a professional and your items are Quality. If you can think of things to put in the Inspiration section of each listing, that will support your product and description, all the better - whatever will show that you offer a high quality, well-made product, using good materials.

Of course, all that will only result in sales, if you can get people to view your shop and products - that’s another issue altogether!

Good luck - your bunting looks nice (though some photos could be a bit lighter/ brighter). This is my favourite:

(Samantha Stanley) #6

I don’t think your prices are too high at all. I’m sure that your things would sell for a lot more in a fashionable shop, so I don’t think your customers would worry about paying your prices. I totally agree that if you were to compete on price with the people that were undercutting you, you both would have to stop making. I expect that you will probably see those shops off in the long run :wink:

Sam x

(Lizzie Gillum, Bedfordshire, Uk ) #7

Oh, this may help?

(Stitchingarainbow) #8

I was writing very similar post today, you were first! Lol
I saw quilts on folksy at a price that would not cover the fabrics used, and I know the fabric prices.
you sell bunting cheaper than it cost to have nails done, and they last two weeks. I paid for my nails and the beautician came to my house £23. And some people pay it every fortnight, but want a bargain when buying a quality handmade product…

(Sasha Garrett) #9

Sometimes people don’t trust prices that seem too low as they suspect corners have been cut and it will be of poorer quality (which may or may not be accurate). My advice - price your products fairly at a price you would be prepared to buy them at.
Hope that helps

(Claire Davies) #10

Thank you. That’s a good point about aiming at customers who know what handmade really means.

(Claire Davies) #11

Thanks, that is a fair point.

(Sara Leigh Thornton) #12

Folksy is open to all kinds of sellers, so as well as those running a business to make a living there are hobby sellers who are just using excess materials from their hobby to make and sell a few items to get a bit of money freed up etc.

Yes, people like a bargain, but if items are too cheap a lot of people will be wary that they are either shoddy quality or cheap imports.

At the moment you have 4 items in your shop, and no info in the Meet the Maker section - it really does make a difference to fill in information about yourself. And think of your shop as a small shop on a very long high street full of other shops selling handmade goods - you want to be able to offer enough in your shop to make people want to stop and browse. I’d say add a few more pieces of bunting, fill in your Meet the Maker profile, and don’t worry about other people’s prices - if people love your work they will buy it :slight_smile:

(Diane Keeble) #13

There is a big range of prices on Folksy so have confidence in your items and go for it x

(Louise Grace Jewellery) #14

I’ve recently had this dilemma myself, I have developed a pricing structure that gives me room to manoeuvre on prices for flash sales and discounts ect bit still make a bit of money for my time. Don’t get me wrong though, every time I work out what something should cost now I doubt myself and it takes a while for me to go ahead and list but I have seen a rise in views since the change in prices without having much time for marketing so far. Remember too that you should earn the equivalent of minimum wage for your time at least, just because you make it by hand doesn’t mean you should earn less. That was the hardest thing for me to get my head around

(Jo Sara) #15

That’s hit the nail on the head. If it’s made by hand there is an element of uniqueness which should cost more. And that’s why it pays to make your items different from you can find on the high street, and even what other makers are doing. If the customer can’t buy your item anywhere else, they’ll be more likely to pay that bit more to have something that bit more special.


(Melanie Commins) #16

Don’t try and compete. We’re not supermarkets, we’re small artisan businesses. People don’t shop the same way for handmade goods as they do for everyday things.