What To Do With Your Excess Jewelry Inventory

Be a smarter jewelry entrepreneur.

Two persons browsing golden beaded necklaces.

Ever found yourself with excess jewelry merchandise and having no idea what to do with them? Lean months are to be expected in retail so shop owners must always be ready when they happen. Don’t let it reach the point when you would have to overload your jewelry display setups with your unsold items.

Fear not because we have the tips that will help you solve this particular business dilemma.

Put the spotlight on your slow-moving items

If you’re having trouble selling a few items at your store, relocating them may be the answer. Put them in the spotlight by placing them front and center in your store. You may even showcase a few of them by your store’s window display. You may revisit some of our past articles for jewelry display ideas if you’re stumped on concepts.

Another technique to consider is to look for your best-selling items and combine your slow-moving products in their displays.

Delicate gold chain necklaces on a T-bar jewelry display stand.

Make improvements to their designs

This step is especially perfect for DIYers and home-based jewelry shops. 

Have a look at your jewelry items that are not selling as much as you’d like. Perhaps they can be fashioned into entirely different new designs so they can be promoted anew and (hopefully) be finally sold.

Bundle them with other items

You may also give them away or offer them at a lowered price together with other items from your inventory. This is perfect for your merchandise from past seasons that you may be having trouble selling. Look through your inventory and see which items you can pair off as a combo offer.

You can go about this by combining items that complement each other or matching your slow-moving items with your best sellers.

Offer them as gifts for loyalty/reward programs

We’ve previously talked about elevating your buyers’ retail experience where one of our tips was about providing your valued customers with extra-special services. We’ve mentioned having a loyalty program where frequent buyers of your store can avail themselves of freebies or special rates for your items. You can use this opportunity to give away your extra stocks as gifts to these customers.

Hold special discount days

Highlight those tough-to-sell items with a day or two dedicated to them. By announcing a targeted flash sale you’re able to instill a sense of urgency among buyers and generate buzz. Run a campaign for it weeks or days before the event by tapping various digital and offline channels. Make sure though to keep a fun and confident tone with your promos, and not “we’re desperate to get rid of these items, take them off our hands please!”

Lean months will come and go, so you better be prepared. By knowing these tips and tricks you will be ready to navigate these kinds of retail challenges.


Post a Comment