In the ideal world, all of your jewelry design you make would sell quickly for you. Unfortunately, this isn’t always the case in the competitive world of jewelry design. In your jewelry business, you’re going to have jewelry items that just don’t seem to sell.This can be frustrating, not to mention costly in terms of profits.
It also can be deflating to your self esteem. If you have jewelry designs that won’t sell, what are your options? I’m going to give you some ideas on how you can take those slow movers and turn them into quick profits for your jewelry business. Here are some ideas:
1. Alter the price of your slow moving items.
Consider increasing or decreasing the price on these items to see if your sell through rate increases. Believe it or not, increasing the price on a slow moving item can give your sales a boost Sometimes an item is perceived as being of lower quality when it’s priced too low. Experiment a bit with price point to see if the item will move. I had a group of slow moving earrings in our store at one time. We increased the price by 30% and guess what? Sales took off! Seems people didn’t notice them until the price went up.
2. Change the way you display it at shows and home parties.
If one of your jewelry designs isn’t selling, give it a more prominent place in your display.As crazy as it may sound, sometimes spotlighting and playing up a slow selling jewelry design can generate increased interest and sales. When potential customers see an item prominently placed with good lighting shining on it, they perceive it to be special and may show renewed interest in it.
3. Offer it as a bonus.
If you have particular jewelry designs that aren’t selling, use them as a bonus for a purchase over a certain amount. For example, you might generate a sign that reads, “Bonus! Get any pair of earrings in this case free of charge when you spend $50.00 or more!” People love deals like this! Don’t you?
4. Sell it on Ebay.
Sometimes a slow moving jewelry design in your local market will sell briskly when exposed to a national and international audience like you find on Ebay. Test your item initially with your original asking price. If it doesn’t sell, you can lower the price and relist it.
5. Give it a story.
What motivated you to design these particular jewelry pieces? Write down your thoughts and design a card on your computer you can display with the jewelry. By telling a story about the slow moving jewelry, you sometimes increase the perceived value of the designs.
6. Put it on your website.
Again, exposing your slow moving jewelry designs to a national and international audience can increase your chances of selling them. Likewise, if you have pieces that aren’t selling online, display them prominently at your next craft or home jewelry show and see how your local market responds.
7. Donate it.
Slow moving jewelry designs can be donated as fundraisers for different nonprofit groups or as a donation for a nonprofit auction. This can generate publicity for your jewelry business.
8. Redesign it.
If all else fails, most necklaces and earrings can be easily taken apart and redesigned to create a whole new piece. That’s the beauty of jewelry design! Very little of your materials go to waste. Isn’t the jewelry design business grand?
Hopefully, this will give you some ideas for selling those slow moving jewelry designs and help you make your jewelry business more profitable!