Raising your Prices in Your Jewellery Business
It is important to review the pricing of your jewellery regularly and are not afraid to raise your prices. Perhaps this is due to inflation, a rise in the cost of materials, or maybe you have been undercharging! Raising your prices can feel like a hard issue so let’s make it easy!
There are several reasons that you may want to increase your prices. Perhaps this is inflation, a rise in material pricing, or maybe you have been undercharging!
Give yourself full permission to increase your prices, you are trying to grow a sustainable business so be confident in your abilities and know that your gorgeous jewellery is worth it!
consistency
Make sure you update all the platforms that you sell on, any social media posts and any printed media where your prices might be displayed.
Have a plan
Set a date for your price change. You can then chose how to approach the increase.
Soft Launch
A soft launch may see you change a few items at a time, starting with your bestsellers and then working through your range. You might not inform your customers of this change.
Hard Launch
For a hard launch, you will share the date with your customers and then change all items at the same time. This can be a great marketing tool and encourage people to buy before that date. You can also use the opportunity to talk about the value you offer.
If you're keen to learn more about growing your jewellery business then do take a look at some of our business courses…
Jewellery Business Courses
And why not come join our lovely community over on Facebook? We're a really friendly and helpful bunch!
Facebook Group
With love, Jess x
Up next
Looking for more advice on raising your prices in your jewellery business? Why not take a listen to this podcast episode?
