Hey guys, I have been on the fence about a something and would love your feedback. So, my business gets a handful of orders a week and overall it is doing okay (I think) but lately I have been pondering the idea of increasing the price of my product and trying to make it have a very meaningful story. The quality of the gear is certainly up to par for a higher price, but at the same time, as a consumer I have always valued affordable pricing.
This is where I need your help, taking a look at what I do, do you think I should stick with my current prices (would you buy them at that level?) and add great stories t the products? or should I increase the prices?
Thanks!! Here is my business: https://www.sanctifiedweavingcompany.com/
You already got orders coming in so you'll know within a week or two if it works better for you or not, just try it. There are many pricing strategies for ecommerce and offering products at a bargain price is the worst, while premium-priced products are a much better choice IMO
Have you considered running some ads with images and displaying the higher prices? The CTR should tell you if people will respond. That would be one test to see how people would react.
Do other retailers with similar products get higher prices?