How to Compete with Mass Market Prices

Here are some things to consider to help you decide on your pricing strategy:
Market Demand:

• There seems to be a significantly higher demand for wire wrapped pendants at a lower price point (below $250) based on your search results. This suggests a larger customer base for lower priced pieces.

Competition:

• The lower price point has much more competition however, so you'll need to find a way to make your pendants stand out in a crowded marketplace. This could involve using unique materials, incorporating intricate designs, or focusing on excellent customer service.
  
• The higher price point has far less competition, but you'll need to justify the higher price to potential customers. This could be done by using high-quality gemstones, precious metals, or creating very intricate and unique, one of a kind designs.
  

Your Expertise and Costs:

• Consider how much time and materials go into creating your wire wrapped pendants. The higher priced pieces will likely allow you to factor in a higher profit margin if they take longer to create or use more expensive materials.

Your Brand Identity:

• Do you want your brand to be associated with affordable luxury, or more exclusive high-end pieces? This will influence your pricing strategy and the overall presentation of your products on Etsy.

Here are some additional tips:

• You can experiment with offering a range of prices to cater to different budgets.
• Consider offering customization options to allow customers to personalize their pendants and potentially pay a premium price.
• Take high-quality photos and videos of your work to showcase the craftsmanship and beauty of your wire wrapped pendants.

Ultimately, the best way to decide on your pricing strategy is to test the market and see what resonates with your customers. You can start by listing a few pendants at different price points and see which ones sell best.

In Summary...

• Focus on the Unique Value Proposition of Your Work: It would be better to concentrate on what makes your handmade pendants special and worth a higher price. This could include:
  
  • Higher Quality Materials: Using gemstones, precious metals or other higher quality materials in your designs.
  • More Intricate Designs: Creating unique and intricate wire wrapping techniques that set your pendants apart from mass produced items.
  • Customization Options: Offering customization options like birthstones or personalized inscriptions can allow customers to create a one-of-a-kind piece and justify a higher price point.

By focusing on the unique aspects of your work, you can build a brand that caters to customers who appreciate handcrafted items and are willing to pay a premium for quality and design.