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?