Market Analysis
As a home-based entrepreneur, you can't afford to conduct surveys and market analysis the way major corporations do, but you should develop a solid idea of who and where your customers are and what they're looking for.
The problem is, too many artisans get it backward. They manufacture products first and then try to find buyers for them. It has to be the other way around: Research the marketplace first; then develop products that will sell there.
In the home-based jewelry business, the key to successful market analysis is observation. You have to pay close attention to how and where jewelry products are sold, what prices other artisans charge for their products, and who buys them.
Find the Right Outlets
In order to determine who will buy your products, you must first decide where your best sales outlets exist. Here are some possibilities:
- Wholesale trade shows
- Retail trade shows
- Festivals and bazaars
- Sidewalk arts and crafts exhibits
- Farmers' markets
- Flea markets and swap meets
- Wine festivals
- Open houses and craft parties
- The internet
- Gift and souvenir shops
- Arts-and-crafts galleries
- Specialty shops
- Chain stores
- Craft malls
- Mail-order outlets
- Arts and crafts co-ops
- Museum gift shops
- Craft fairs
Start Small and Market Locally
Learn about every possible nearby outlet. Determine what's available in your town, in your county, and within easy driving distance of your home. Find out where and when all the craft fairs and related exhibits are in your community and in nearby towns. Similarly, identify and locate all the shops and galleries that might handle your products. These should be your primary marketing targets.
Gradually extend your research to include potential sales outlets throughout your state and region. Take some scouting trips and check out all the shops and galleries.
In every town you visit, your first stop should be the local chamber of commerce or visitor center. Collect general descriptive literature about the community and find out about all the local events that offer opportunities for jewelry sales. Most chambers and visitor centers have brochures and other publications that provide all the details you need. Be sure to get literature about shopping, restaurants, and lodging, and ask for a complimentary copy of the local phone directory. Back home, file this material for later reference and trip planning.
Tell the person at the visitor center what you're up to and ask for recommendations. Sometimes potential outlets exist in the least likely places.
During your scouting trips you'll learn about many other places you might not normally consider possible sales outlets. In my travels, I've found gift shops and galleries at hotels, motels, and lodges. I've been surprised to find artworks and jewelry on sale at many restaurants, marinas, and even campgrounds and RV parks.
Make the most of your trips. Ask the locals lots of questions. Take notes. And observe, observe, observe.
Lenna Green is the author of the book "How To Make Money From Beading and Jewelry Making", a guide for turing your passion for jewelry making into a money making machine.Return to top of Where Should I Sell My Jewelry?.
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