Your designs are original, your t-shirt Shop keeps would-be shoppers engaged and interested, and yet for some reason your cash register hasn’t been chinging the way it used to. Perhaps your design price is too high? Or maybe it’s too low and you’re not generating the revenue you once did. Take a read through our design price tutorial after the jump to find the sweet spot that keeps the register ringing.
The Perfect Design Award
You decide what you want to earn – and your customers decide how much they’re willing to pay- but high prices do not automatically mean that your total revenue goes through the roof.
An analysis of all styles sold in our Marketplace provided the following information:
- Almost half of all designs sold cost between $2.00 and $3.99
- Designs priced in the $4.00 to $5.99 bracket account for 33% of sales
- The $0 to $1.99 bracket accounts for 11% of sales
- Designs with prices in the range of $6.00 to $9.99 sell much less frequently (6%)
- Designs priced at $10 and above are only purchased by a meager 1% of customers
So which design price is best? Well, that depends on the nature of the products you sell. Product price and design price should be in an appropriate ratio. For example, if you sell smaller items like accessories, the design price should be lower than in a shop which specializes in t-shirts and hoodies.
The time, effort and intricacy of your designs must also be considered when determining price. A simple typography design should probably be priced on the lower end of the spectrum as compared to tedious, detailed artwork, which deserves a higher ticket price.
When it comes to new products, we recommend an average design price of $2 – 3. Once you know how high the demand, you can adjust the design price accordingly for the best sales. When you introduce new products, we recommend an average design price of $2 to $3. It’s important to define rounded design prices that either end in .00 or .50 in order to ensure recognizable end prices ending in .99 or .49 (e.g. $18.99 or $17.49).
Give it a go! With only a few tests of these design price changes, you’ll quickly be able to see where, when and how you can make a difference to your bottom line. Once you’ve determined what works best for your designs and products, you can continue to tweak product and design price for maximum profit.
What have you noticed when it comes to design price? Have you tried these or similar adjustments to see how your bottom line is affected? We’d love to hear your observations in the comments.