With a digital product, pricing can be a bit more difficult to figure out. Since you are selling the same product over and over again without adding additional cost (outside of Etsy fees if you are selling on Etsy), traditional calculations for product pricing don’t work. Your pricing needs to cover your equipment (computer, software, etc.) and supplies (fonts, illustrations, etc.) as well as your time – BUT – you are selling the same thing over and over again to recoup those costs over a longer period of time.
Do a bit of research to find out:
- What are competitors in your niche selling similiar products for?
- What are highly rated, top selling print shops selling similiar products selling for?
- How many products would you need to sell at this rate to make your dream income level?
- Is this realistic compared to other shops?
The key is to research items that are closely related to what you are selling, as there can be a huge variety in cost. If you were looking to sell digital art prints, they sell anywhere from $4 – $20 USD per print. If you are selling customized prints (not 100% digital as you need to edit them once purchased), print sets with multiple prints, etc. then your items may be priced higher than a single print. If you are selling illustrated/painted prints that you hand painted and/or digitally created, prices can be higher than quote or text prints.
Currently, my digital art prints sell for $8 CAD. For two print art sets, it is $11 CAD. Three print sets are $22 CAD, and other sets have varying prices based on how many prints are included. Generally if you are offering a bundle of products, it can help to offer the whole set at a slightly lower cost than it would be to buy each print individually.
