Let’s go back to school today…
Raise your hand if you’ve ever gotten feedback that your jewelry is priced too high or too low.
Raise your hand if you aren’t making enough sales because of price resistance that you don’t know about…
…Seriously, get your hand up.
Because I can pretty much guarantee that if we were all in the same room, every single hand would be in the air.
Pricing your jewelry correctly is probably the biggest across the board struggle for designers. And here’s why:
If you’re not designing your jewelry from the very first sketch with a price point in mind, you could end up with a piece that is way more expensive than the other pieces in your line due to materials and labor overhead.
Or, equally as bad, you could produce the perfect piece for your collection but underprice it, which will make buyers question the value of the jewelry and leave it sitting on your inventory.
Both are bad for sales. Unfortunately, both happen to pretty much every jewelry biz owner at some point.
(You can put your hand down now).
I’m speaking from experience here.
I have made almost every pricing mistake that can be made during my career… and when my pricing was not correct it was crippling to my business.
On today’s episode I’m going to help you identify the biggest pricing mistakes jewelry biz owners make that cost you big time.