Refining a product range
Sarah Verity, a jewellery brand specialising in adjustable rings
When jewellery brand Sarah Verity’s range of adjustable rings became too extensive to manage, it was time for us to help with our favourite – a good old range plan! We helped refine the collections, making sure they kept the essence of what customers loved while making sure the range was profitable.
Designed in the UK and handcrafted in Jaipur, Sarah Verity Jewellery’s adjustable rings are specially designed to fit any finger. After all, how many of us know our ring size when we’re shopping for jewellery?
The brand sells worldwide and its products have been spotted on the hands of celebrities including Jo Wiley, Zoe Ball and Game of Thrones’ Lena Heady.
Challenge
In the early days, Sarah Verity Jewellery were keen to learn what people loved and what would work commercially, so they trialled lots of different collections, price points and gemstones.
Learning from experience is really important, so we’re all for that approach. But by 2020, the brand found themselves with a massive 450 product options and were in need of a plan.
The range was overwhelming their customers and choice was becoming a barrier to securing those all-important sales. “We recognised that we needed to start to go from organic growth to a more considered measured approach to build the Sarah Verity brand to the next level”, says founder Sarah Parham. She approached Flourish for help.
Solution
When you have too many products, the logical place to start is by refining the range.
That’s exactly what we did! We used Sarah Verity’s data to drive our recommendations, but also looked at aesthetics and the need to balance the range before making any final decisions. After all, data isn’t (quite) everything.
By the time we’d finished, we’d whittled the range right down and come up with a plan for new products to inject some fresh looks. And with that done, we turned our attentions to clearing the old stock, whilst protecting as much profit as possible.
“After working with Flourish for four months, we now have a tight curated offer that is propelling sales forward. This means we can better inform our stockists ensuring they get the right mix for their customers.
Our website is now much easier to navigate with customers finding it easier to find the rings they want, shown with strong month on month sales.
Last year we grew 74% and this year we are aiming to double our growth.”
—SARAH PARHAM, FOUNDER OF SARAH VERITY JEWELLERY
But we didn’t stop there…
We also made Sarah:
A product hierarchy and sales plan which allow her to see how many products she’ll need through the year, what that means in terms of investment, and how many of each product she’ll need to sell. They also help her to make decisions about which new lines to design, helping her to focus her time and save money.
A reporting tool which spins her raw data from Shopify into more meaningful numbers. Each month, we use this to decide which products to buy more of, which ones to push in Sarah Verity’s marketing and any which need to be promoted in order to keep stock turning. And the reporting tool also helps us to identify possible new opportunities!
All this means we can continually review the potential for the brand, and make sure that we consistently get the very best for both Sarah Verity’s cash flow and profit.
