Puzzle Prices

[kmmcrafts]

Last year I was pricing my puzzles at the same price points most of the other sellers that make and sell them for which I think most ( including ) myself priced based on what Scott was selling his for ($25 ). " For me" the price point was not profitable enough to make it worth my time and effort ( I need a profit or I'm not in business ( yes it is a hobby / business but profit is profit and loss is loss whether it's for fun or not ).

Anyway, Beginning the new year I raised the prices to $30 + $4.50 shipping for animals, and $40 for the cars / tractors etc. I am selling more than ever before.. was concerned about loosing sales because of the price points and having to give up on the puzzle making as everybody and their brother selling same puzzles on Etsy and other sites from $10 - $25.. But it seems maybe the price hike put my puzzles at a higher value? I have no idea but I've been busy selling them.. Might have to consider raising the price a bit more due to supply & demand.. 

Just thought I'd throw this info out there to anyone selling them or wanting to sell them.. The $25 price points have been around since around 2004-5 when I first started scrolling a guy named Mike ( passed away a few years back unfortunately ) had a website called Wood-N-Things ( I think was the name ) was selling these same puzzles for $25 for made from Poplar or $30 from other hardwoods and he was a busy guy way back then.. Inflation happens over time.. 

Anyway, non of my business what you all want to sell them for.. and you're location may make the difference.. I'm just sharing my experience with my online price points.. You'd think if they are willing to pay the price + the shipping.. a craft show should be able to bring the same money.. If anyone gives it a go with higher prices I'd be interested in hearing how it goes.. good or bad.. Hopefully good..   But I do understand that location makes a huge difference.. Good luck to all those sellers out there for 2021 and beyond.   

Photos for samples of the puzzles I'm speaking about

[Jim McDonald]

Kevin, that was "Montana Mike" and the website name is correct.

He was a moderator and great friend over on the magazine board. He had a great cut and paste for every new member and had post numbers that rivaled Amazing Kevin.

[kmmcrafts]

45 minutes ago, Jim McDonald said:

Kevin, that was "Montana Mike" and the website name is correct.

He was a moderator and great friend over on the magazine board. He had a great cut and paste for every new member and had post numbers that rivaled Amazing Kevin.

Yeah, he was a awesome person.. I used to be quite active on the magazine board until they tried updating the site and had everything messed up.. had to rejoin etc etc.. I'm still on there and check in once in a while.. Sure miss a lot of folks that was regulars on there and often wonder what happen to so many of them.. Mike and Kevin Daly ( believe Kevin was a moderator on there too ) both were an inspiration for me to try selling my crafts.. Kevin Daly and I messaged back and forth for some time discussing prices as well as Mike.. They all seemed to have confidence in charging what they deserved for the work done.. rather than taking what they felt like the market would pay..  Dave Hall is another name I remember. I'm not sure if he was on the magazine board but he was on the MSN groups and boy could he whip up some nice patterns of cars.. I cut a lot of his designs back in the day..  Sure miss Mike though.. never met him in person or anything but he sure was a great person.

[dgman]

2 hours ago, Jim McDonald said:

Kevin, that was "Montana Mike" and the website name is correct.

He was a moderator and great friend over on the magazine board. He had a great cut and paste for every new member and had post numbers that rivaled Amazing Kevin.

Yeah, I miss Mike ( Montana Mike).  I considered him a true friend!

[kmmcrafts]

Just raised my prices on everything sitewide other than the ornaments and dog puzzles.. but the transportation themed puzzles also got a price hike again. Most all items are now about $10.50 more than they was.. The puzzles are now $4.50 more than they was.. Two hours after the price hike, I had two orders one for car puzzle and a motorcycle clock. Guess I didn't screw up my sales much.. Figured I had not raised prices of my clocks in about 6-8 years yet lumber and everything else had gone up.. Well I sort of did raise prices in a way because when I was ready to raise the price due to rising cost of the clock inserts I found how to order factory direct.. which saved me about $6 per clock.. so I got a raise without raising the price, LOL..    

 

[kmmcrafts]

So just an update on my higher prices... 

My sales have dropped slightly (3%) on etsy..  my revenue is up 4%  ( as of a few days ago ) 

On Amazon I didn't change my pricing.. I don't have any sales numbers stats but revenue is up a whopping 40%.. was only 25% ish 

Now the question is.. how would I have done on etsy had I kept my old pricing structure.. Maybe I'd have done better? I don't know..

Something I personally find between the two sites is that... Etsy shoppers seem to expect a higher price for a handmade item.. and many are willing to pay $$ for something unique and personalized.. Amazon shoppers seem to be looking at the lowest price points.. 

A lot can change in those % in just a couple days for me.. My website sales are down nearly 50% but my revenue ( was way down a week or so ago ) is up 10% and expected to be more as I just got a huge order that should increase it another 10% or so I think. I am seeing a slight decline in both orders and revenue on etsy now while Amazon still kickin it hard. If that continues I'll see a decline in revenue for this year. 

In either case, I wouldn't have been able to keep up with business as I've been running at my capacity for two years now..  Kinda why I experimented with pricing to slow down sales yet make the same or more $$ and it looks like it worked so far..

 

[BadBob]

@kmmcrafts

I'm not in your league, but I am finding that raising prices seems to decrease sales slightly but increases revenue. I only have my Etsy shop.

So far this year, orders are down 8%, but revenue is up 36%.