Stumbled on an Etsy stat that made me rethink my whole pricing

I was digging through some old craft fair records last night, trying to figure out why my sales have dropped since 2019. Then I found a post from the Etsy sellers blog that said the average order value on handmade home decor went up 40% in the last 5 years, but the number of buyers actually shrank by 15%. That hit me hard because I've been lowering my prices to compete, when apparently people with money are still buying, just fewer of them. Has anyone else noticed this shift in who's actually buying at markets versus online?

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gavinp4411d ago

Oh man, that stat hits close to home (pun not intended, but there it is). I've been doing the exact same thing - slashing prices on my wood signs thinking volume would save me, but I'm just burning out faster for less money (while my carpal tunnel gets worse, go figure). It makes sense when you look at the craft fair crowd now compared to five years ago: way more retirees with disposable income and way fewer young couples hunting for deals. I finally tried raising my prices back to what they were in 2019 last month and actually sold more at the last market, so maybe the problem was me undervaluing my own work.