Product of the week: Custom Jewelry

If there’s one type of product that people will spend high amounts of money on — either for themselves or for people they care about — it’s jewelry.

As long as it’s well made and durable, jewelry has an advantage that a lot of other products do not have:

High perceived value!

People might hesitate to drop more than $30 on a custom made t-shirt, or more than $40 on a hoodie… but will EASILY spend $50 – $70 on a piece of jewelry that’s much smaller, and obviously less visible than a shirt.

Let’s see if there’s any interest in custom jewelry (spoiler alert: there is!).

Here’s a Google trends graph showing interest in “custom jewelry” for the past five years:

Hmmm…

Let’s take a look at another related term, that’s more specific:

Custom Necklace.

Definitely some interesting trends in there…

But we can step it up a notch.

Let’s drill-down even further.

How about something like “birthstone necklace?”

It looks like there’s consistent interest in all three of these search terms, so we can confidently say that people look for some sort of custom jewelry throughout the year.

We also see the usual spikes in search volume around November/December, and before Mother’s Day.

In addition, there seems to be an overall year to year increase, more easily visible in the last graph, but present in all three.

Just a moment ago, I mentioned Mother’s Day.

One of the BEST times of the year to buy (and sell) jewelry is Mother’s Day (no surprise, I’ll tell you why I’m bringing this up in a moment).

Take look at the amounts spent around this holiday year over year in the United States:

 

Another factor worth noting is that people who looked for a Mother’s Day gift, wanted something unique:

“When shopping for a gift for Mother’s Day, 44 percent of respondents during a recent survey stated that finding a unique or different gift was the most important shopping consideration.”

So here’s what we know so far:

  • People buy jewelry.
  • They are willing to spend a lot of money on it.
  • They buy it for all types of occasions (Mother’s Day, Valentine’s, birthdays, Christmas, etc).
  • They like unique/different jewelry.

So on that last point… how do we sell people unique/different jewelry?

You might already be thinking this, but just in case you’re not… the answer is Print on Demand jewelry!

One of my favorite Print on Demand providers for this type of jewelry is ShineOn.

In the past couple years, they’ve established themselves as a market leader, having a consistent and expansive product selection. And it’s really good quality!

Here are a couple of their more popular products:

A heart necklace with a message card you can customize, and the customer can upload their own photo:

 

Here’s another…

A necklace with two hearts, with a message card you can customize:

 

If you look closely at these screenshots, you’ll see that production costs aren’t that high.

Neither example listed costs more than $14, which leaves plenty of room for mark-up (ie. profit!).

With that in mind, let’s play with our nifty Dropshipping Calculator and do some revenue predictions:

Let’s assume:

  • A product cost of $18 (with shipping).
  • A cost per sale of $17.
  • We’re selling our product for $50, and making as little as 5 sales per day.

So what do we get after making 5 sales a day for 6 months? (btw, these numbers are intentionally conservative!)

  • $45,000 revenue ?
  • $13,500 profit ?
  • 30% profit margin ⭐️

If that profit margin looks good, wait until you hear this:

ShineOn products have built-in up sells, like personalized engraving and luxury boxes, which means that your average order value is likely to be higher than the amount we used in the calculator :).

But let’s assume you want to increase your sales and profit margins even more…

Here’s a couple ways to do it:

  • Scale! (find additional angles, targeting options, increase your campaign budgets, etc.)
  • Beef up engraving up sells (more revenue for the same ad spend!)
  • Retarget! (DPA campaigns have awesome ROIs if done right)

Some final thoughts:

A lot of people in the eCommerce world are worried about competition.

Yes, there’s a lot of marketers/businesses out there selling products.

Well, if you read our guide on how to build a dropshipping business the right way, I talk about using angles in your marketing.

10 people may all buy the same product, but all 10 may buy for different reasons.

That’s why it’s so important to focus on WHO you are selling to and WHY they are buying, not so much on WHAT product you are selling.

Coming up with unique angles will help you stand out from the crowd of people who just throw up random products and hope people buy them.

While everyone else is trying to sell a product for Mother’s Day, Valentine’s Day, etc… maybe YOU’RE selling a “Sweet 16 gift” or a birthday present for a grandmother.
^^ Read the last few sentences again, there’s GOLD in there.Anyways, that wraps up this edition of Product of the Week!
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