Try a Jewelry Sales Analysis for Your Website or Etsy Shop
by Lisa Weber.
(Silver Vine Jewelry)
It occurred to me recently that I could have a much better Etsy experience if I listened to what my customers were telling me.
My customers’ feedback comments were always very positive, but could their choice of purchase provide some information that might hint at what they wanted?
Analyzing My Online Jewelry Sales
To make some sense of my Etsy sales, I did a sales analysis of my shop.
I made a chart listing prices $25 apart, and made tick marks to indicate the prices of my sold items.
In 5 minutes or so, I had my answer:
I learned that although I offer jewelry in a price range from $15 – $250, my sales are very much concentrated in the $25 – $75 range.
But What Kind of Jewelry
Was Selling the Best for Me?
Should I concentrate my efforts on making more necklaces, or more earrings?
So, I made a chart.
I listed the types of jewelry I sell: neckwear, earrings, bracelets, rings, brooches.
I made a tick mark for each piece sold, and in less than 5 minutes I learned that my online jewelry sales are concentrated very much in neckwear and bracelets.
I found this really interesting, because at shows, earrings are usually my best sellers.
Was I Selling Jewelry in Proportion to
the Types of Jewelry I Listed?
Hmmm, maybe I sold the most neckwear and bracelets because I listed more of those items?
I’ll bet you can guess what I did. You guessed it, I made a chart!
I listed the number of bracelets, rings, etc, in my shop, and compared them to the number of sold items in each category.
I immediately noticed a pattern.
I did a quick % calculation on each: # of items sold divided by the # of items listed.
It turned out that I got a very similar answer for each category.
This told me that I sold jewelry pretty much in exact proportion to what I offered, except for bracelets. I sold a higher percentage of bracelets than I would have predicted based on my offerings.
Using What I Learned from My
Jewelry Sales Analysis
This analysis was kind of fun to do, and didn’t take long.
Based on my findings, I will be designing more neckwear and bracelets in the $35-$65 range, to help cater to what my customers seem to want.
I hope to see my sales numbers improve as a result.
I want to recommend this concept to all of you.
Make a couple of sales charts and see what you can learn. What changes will you make based on what you find?
Author Lisa Weber of Silver Vine Jewelry creates hand fabricated, one-of-a-kind pieces in sterling silver. Lisa’s jewelry can be seen on her Silver Vine Jewelry website, at craft shows in Pennsylvania and New Jersey, and in her Silver Vine Jewelry Etsy shop.
Lisa Weber teaches jewelry making in the Poconos, PA.