Minimalism Brand in 2017. Numbers, sales, errors and successes.

We were born today 119 days ago, and as we told you in the first post of this blog, we are going to tell you all the good and bad things that are happening to us. Every three months we will do a review post in which we will show you all the numbers (sold portfolios, conversion rates, growth…) and we will make a list of milestones achieved and big mistakes. Here is our summary of 2017.

THE NUMBERS, from September 7 to December 31, 2017

14,829 unique visits, 88,779 total visits, with a 27.96% bounce rate and 4.14 page views per visit.

1,185 orders , with an average income per cart of €12.15. In this last month of December we managed to have an average income of €20.28 per cart with a higher sales volume.

14,393.79€ in turnover from our online store and 755.04€ in turnover through large orders of handbags (we will talk about this last one in another post). In total: 15,148.83€ . The company is profitable today.

7.99% conversion from unique visit to sale.

€1,179 investment in online marketing.

The best-selling wallets in this order are the models Garnet Basic , Black Basic, Green Basic. To give you a closer view, in December we sold 114 garnet wallets, 81 black ones and 73 blue ones.

Regarding the exclusive Revolut models, the Blue and Red model is the one that our customers like the most.

SMALL SUCCESSES AND BIG MISTAKES

If on September 7th we were told all the Minimalism Brand team all the things that were going to happen, I'm sure we wouldn't believe it. We've worked hard (it's a given) and it's been noticeable from the beginning. The first 15 sales were from friends and colleagues , but this Christmas we've seen people we didn't know at all take one of our wallets out of their pockets in some bar in Madrid or Segovia. Brutal satisfaction.

The first order to our supplier was for 3 wallets, we wanted to see the quality and take some photos. We liked it and decided to make a “major” production of 500 wallets : 200 black, 200 maroon and 100 green.

We started September with a website (much uglier than the one we have now) based on Wordpress and with only 3 portfolio models. Our logistics centre at that time was our small office within the Livink coworking space. Every time an order arrived, we sent it the next day from the post office at C/Martín de los Heros 57 in Madrid. We sent it without a certificate and from the very beginning we have not charged the customer anything.

We promise you that everything was a normal start until we had an idea that changed the company suddenly. We decided to launch a 48-hour promotion called “Free Today” , a simple offer in which you only paid the shipping costs (€5.95 VAT included). The offer went viral and we sold more than 1,000 wallets in 4 days. Consequence: we had no stock, it was going to take us more than a month to send the wallets, but we also realized that we had a product that people wanted to have. In this post we tell you in detail “Our first big mistake” .

Little by little we managed to overcome the problem and the wallets were arriving at your homes and offices (some of them waiting for more than 6 weeks). We had to make our second big order with which we had to anticipate all the sales of Black Friday, Cyber ​​Monday and Christmas. We had stock again on November 20th and one day we will tell you everything that happened that day…

We were out of stock for a month and we took advantage of it to:

• Improve portfolio quality with your feedback.
• Launch exclusive Revolut models on the market.
• Switching our website from Wordpress to Shopify, a huge improvement in technology and design.
• Learn about online marketing channels like Instagram and Facebook.
• Optimize our manufacturing and shipping logistics.

Since November , all orders have a tracking number so you always know when they will arrive in your hands, without any extra cost and within 48/72 hours. Something absolutely necessary for you and for us. We have also launched the 24/48 hour shipping service with an extra cost for you of €2.50.

Between the end of November and the beginning of December, we returned with a good pace of sales and with several promotions that were very successful: the 2 for 1 and the 3 for 30 €. We also put the Revolut wallets on pre-sale and launched two new Basic models on the market, the grey version and the blue version .

During December everything started to take off and it was rare for us to have a turnover of less than €200 with just over €15 invested in online marketing. There were some days when we exceeded €500 in sales and the purchases came mainly from clients who already had their wallets in their hands , buying to give as Christmas presents. The last days of December were very good in sales thanks to an agreement we reached with the blog Compradiccion, they published our Christmas offers.

We have opened a physical store in Madrid Centro ( Despacio store on Calle Belén 10) and another one in Oviedo Centro ( Namuka&Co store on Calle Independencia 22) . Thank you for trusting us. We will soon be doing something really cool in Alicante, stay tuned.

And as the icing on the cake, we have discovered a new business model: customising wallets for other companies. Launching limited units of exclusive wallet models with the branding of the company in question . In a few days we will launch the first collaboration, we have a lot of fun and we are excited about it.

We are really looking forward to 2018, and we are really looking forward to telling you about it.