Jewelry can be a difficult product to sell at the best of times, but when the economy is in a slump, many people are looking to sell their old jewelry rather than buy new pieces. Slowly but surely the economy is recovering, but not quite so fast as to be considered a boom. Whether you sell jewelry exclusively or as part of a boutique store, you may have found it harder to sell expensive pieces in recent years. But money isn’t the only complicating factor when it comes to jewelry sales. Another big hurdle is the customers themselves.
Oftentimes the customer isn’t buying the piece for their own use, but rather for a spouse or close relative. That disconnect means extra work for you and your sales staff. When it comes right down to it, the more expensive the piece, the more salesmanship required to complete the transaction. Check out our previous article for tips on how to help confused and lost shoppers in a rush.
So what are the best ways to sell jewelry? It all starts with knowing what’s in this season.
Winter jewelry trends
Salesmanship should start with knowledge – a customer can always tell when a salesperson isn’t knowledgeable about the products they’re selling. Take the time to familiarize yourself with the season’s trends and specifically with the products you have for sale. When JCK magazine interviewed top diamond experts about how to sell jewelry, many of the professionals said that one of the most important things a salesperson should be able to do is listen to the customer. Not only will the shopper be asking you questions, you need to ask them about their needs and desires. Then you can truly let your knowledge shine.
This winter’s jewelry trends are all about – you guessed it – cool colors. Black and white pieces dominated the catwalks of New York, Paris and Milan, but icy blues and steely grays were also on display, reported Vogue magazine. Looped pearl necklaces hung from the models’ necks and twisted metallic earrings dangled from their lobes. These pieces work with faux fur coats, navy blue blouses and smart white peacoats. Additionally, Marie Claire magazine reported that throw-back jeweled headbands and silver brooches are very popular this season.
But what’s the best way display these pieces? Your main tools will be glass display cases, jewelry trays, and busts. Let’s start with colors. Silver and metallic pieces will stand out well on black displays. Consider some of our black velvet necklace displays for pearl strands and silver pendants. While more moderately priced items can look great on a boutique earring display, more expensive items should stand out on their own stands. Depending on your store’s theme and style, our burlap displays could be a good fit. Check out our article on earth-toned displays for tips on how your store can go green.
Another thing you should keep in mind when making a sale are the technical and practical aspects of each piece. Our sizing sticks, finger gauges and polishing cloths will ensure that your customers go home with pieces that fit perfectly and look great. From the moment they walk into your store until the time they leave, the customer should feel as if the experience is custom tailored to them.
Marketing work by local artists
If your store mainly sells clothing, you may want to consider selling jewelry made by local artists. This works out in your favor because you won’t have to purchase large stocks of merchandise and customers will appreciate that you support local art. Even if you only give up a section of counter space to a few local artists, the impact it has on your business could be huge. How much of a percentage you take from each sale will depend on what kind of agreement you have with the artists.
“Selling locally crafted jewelry could draw new customers.”
When selling local, handcrafted pieces, make sure to use that in your marketing. The retail expert Bob Phibbs recommended cutting down on technical talk when discussing jewelry with customers. Instead of trying to sing the praises of a piece by talking about its clarity and cut, focus instead on how it will make the shopper feel. If it’s a ring or necklace made by someone local, talk about the impact of small businesses on the local community or perhaps about the craftsmanship that went into the piece. When sending these items off with customers, use a sinamay pouch or jute bag to add to the handcrafted feeling.
Don’t miss out on potential sales by only selling to one half of the population. It’s true that many men buy jewelry for their wives and girlfriends, but that doesn’t mean it can’t work the other way around. Especially around the holiday season, you may find women shopping for accessories for their husbands and boyfriends. And it’s not just watches and cufflinks – these days more men are wearing necklaces and earrings, according to AskMen.
That said, not every guy can cover himself in chains and rings like he’s Johnny Depp. AskMen said that the average guy can do just fine with a single ring – if they aren’t married – and a thin chain necklace with a small pendant. When displaying men’s jewelry, use something simple such as a black or wood display box.
Even if jewelry isn’t your main seller, it can still be a great source of income if you position it in the right way. Remember to be patient with customers who are buying expensive pieces – it’s a big decision for them, and they’re typically buying for a very special occasion. Asking a lot of questions and having knowledgeable answers of your own will lead to more sales and satisfied customers. And when it comes to displaying it all, we’ve got you covered. If you need more information about specific display items, we’re a phone call away and always happy to serve you in any way we can.