Wednesday, February 23, 2011

Analyzing My Etsy Online Jewelry Sales

To make some sense of my Etsy sales, I did a sales analysis of my shop...

First:  I made a simple chart listing prices $25 apart, and made tick marks to indicate the prices of all my sold items. In 5 minutes or so, I had my answer: I offer jewelry in a price range from $10 - $125, my sales are very much concentrated in the $10 - $50 range.
(items I've sold in this range)

But what category of jewelry is selling best in my shop?  How should I concentrate my efforts to make the best use of my time and materials?

Second: I made another chart listing the types of jewelry I sell: necklaces, earrings, bracelets, and other.  Again, 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 necklaces and ‘other’ (bookmarks, pull chains, and key chains).  I found this really interesting, because at shows, earrings are usually my best sellers.
(Earrings I've sold in my shop)

Was I selling jewelry in proportion to the amount of items listed in each category?Do I sell more neckwear and ‘other’ because I’ve listed more of these items?

Third:  So, back I went to the chart for an answer. I listed the number of bracelets, necklaces, etc, in my shop, and compared them to the number of sold items in each category. I did a quick % calculation on each: # of items sold divided by the # of items listed.

It turned out that I got a surprising answer; I’m not selling in proportion to what I’m offering. I sold a much higher percentage of necklaces and ‘other’ items. Earring sales are very low compared to the number of earrings I have listed.

Using What I Learned from My Jewelry Sales Analysis.

Based on my findings, I need to be designing more necklaces and ‘other’ items in the $10-$65 range. Hopefully I will be providing what my customers are interested in purchasing online. I hope to see my sales numbers improve as a result.

Make a couple of sales charts and see what you can learn. What changes in your Etsy shop will you make based on what you find?

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  1. Hi Lori. Just running thru some new-to-me blows in prep for the Bead Soup Party. I found this post very interesting, and if my Etsy shop were more active, I'd definitely try out your calculations. Something to shoot for! Grace

  2. Thanks for sharing i am planning opening my own etsy shop very soon i am always looking for tips & advise its a big world out there :p

  3. Pendants and necklaces are beautiful and versatile jewelry pieces.

  4. Hi Lori, I found your site through the BSBP. Thanx for the helpful advice.I am opening my etsy shop soon.