Transitioning to Higher Jewelry Prices
by Rena Klingenberg. © 2003-Present Rena Klingenberg. All Rights Reserved.
When we begin selling our handmade jewelry, most of us start out with a selection of low-priced items.
That makes sense as a starting place, while you develop your skills and experiment with techniques, materials, and product lines.
But as your skills progress and you refine your market and your jewelry lines, you’re probably ready to start making more expensive items – and charging more for the expertise that’s now evident in your work.
But how can you go through this price transition without losing any of your current customers?
One solution is to offer jewelry in more than one price range.
I’ve had a lot of success with striking a balance by offering quality jewelry items in three price ranges – low, middle, and high.
Some of my customers started out purchasing my low-priced items, then moved on up to buying my middle- and high-priced jewelry.
But many started out right away with the middle- and high-priced pieces.
And when you start offering jewelry that’s above your original low-priced items, you may be surprised at how many of your earliest customers will say something like, “I’ve been waiting for you to start charging more!”
Because honestly, many of your devoted customers have been wanting you to move up to the next level – in your designs and your prices!
I’m interested to hear whether you’ve raised your jewelry prices (or added new jewelry lines in higher price ranges) – and what your customers’ response was?