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Time to Check Your Pricing!


TallTayl
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With the supply price increases, shipping increases, FEE increases (hello Etsy ADS.....) it's a good time to check your pricing. I just spent a few hours on my holiday candles and realized how little I was profiting from all the hard work and TIME to make and package my holiday candles.

 

It's always a good idea to take a pulse of your products pricing.  Given all the issues over the last year and a half, now is as good a time as any to make sure we're not working for free.

 

I used this quickie calculator to double check my spreadsheets.

https://omniprofitcalculator.com/etsy-fee-calculator/

 

The calculator is missing the cost for Etsy Ads. I have to factor in an additional 12% now to absorb the new fees. I took note when checking the shop dashboard. Pretty much all September orders came from a google search. Not a bag thing, except many of those customers were repeat buyers from any years. Etsy got to take an additional 12% from me because they came back to buy through a google ad instead of logging in to their Etsy account to rebuy stuff they have bought from me for a decade. Not cool. Not cool at all Etsy.

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3 hours ago, NightLight said:

Oh yeah, I feel the pain. Increases in supplies, ads. 😱Shipping. Still amazes me that I see jar candles under 18 dollars with free shipping on Amazon. If you like giving products away hahaha…

No kidding!! Running the mental math makes pretty much all of them loss leaders 🤷🏻‍♀️
 

I need to stop being worried about losing a few sales to price increases. I can’t absorb increases forever. 😢. Increasing prices 10% might lose 10% of customers, leaving me at the same tip line but healthier bottom line with more actual profit for my time spent. 

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Back in the day before USPS went nuts, I would ship to Australia all the time. The shipping was very reasonable.

What’s annoying is this does not help USA compete with China.  China sellers basically pay almost zero for shipping.

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Price increases seem to be across the board so customers should not be surprised at all.  In addition to candles, I am a reseller of vintage, antiques & jewelry and wow have prices gone up even at thrift stores. 

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2 hours ago, NightLight said:

Back in the day before USPS went nuts, I would ship to Australia all the time. The shipping was very reasonable.

What’s annoying is this does not help USA compete with China.  China sellers basically pay almost zero for shipping.

This is good point!

 

shipping costs for parcels going outside of the US are insanely high. We are at a big disadvantage compared to many other countries.

 

I’ve shipped all over the world usps for years with no issues.  Customs this year has been a nightmare. Not only is it expensive, it has become unreliable. A customer in Australia had to track down their parcel with me through the third party delivery services in AUS. The address was perfectly fine. The delivery service just dumped it into a warehouse somewhere. This is a lot to ask of a customer. 😢
 

Think, too, about if something does not reach the recipient. Depending on the country we are on the hook for refunding item and shipping per the consumer laws in the country the item is shipping to. 
 

Recently went through Etsy listings and restricted sales to only US for the time being.  

 

 

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I stopped selling out of country because it’s a super hassle now, also customer don’t want to pay extra for tracking so there you go. Sorry to see the sales go, but business changes.

There was a time shipping was a decent price for seller and buyer but no longer. Do not agree with how the post office is being managed. We should have shipping like Asia and promote small business. 

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