In my consulting practice, I visit a different independent retail jewelry store almost every week. When you go in that many stores that often, you begin to see patterns that give you insight into which stores are successful and growing versus those that are stagnant and struggling.
Store owners will often ask me to rank their stores compared to other stores based on some criterion.
You haven’t asked, but here is a brief summary of how I answer that question.
Successful store owners have a plan. An Intention for where they are headed. They make things happen instead of wondering what happened. It is just like the GPS on your cellphone. Type in where you want to go and the phone will tell you how to get there. Without a destination, your GPS becomes a brick waiting on instructions.
I most-often see an example of this in a store by checking out their showcases. Are the cases emphasizing the pieces they want most to sell or is the display strategy just, “get it all in the case”? Are the cases set up so each piece can be seen through the top of the case or are customers required to bend over and look through the front glass of the case because some associate has pushed all the merchandise to the front? Is the sweet spot of the case (the back center) full of higher ticket pieces? Are the displays soiled and worn because the owner mistakenly thinks nobody pays attention to such things (because he/she doesn’t)? Are about 25% of the pieces priced with signage and emotional adjectives to make it easy to shop? Are the cases organized by how people actually shop or by some little-known company from whom you bought the goods and got a free in-case display?
Successful store owners have a lot to do each day and paying attention to these things takes time and effort. I know that, but a store’s growth and even survival depends on sales of their merchandise at a reasonable profit.
If you need help putting together a plan to get your store on the right path, let me know. I know how to successfully merchandise jewelry and make it sell and I am happy to help, no strings, no sales pitch.
I frequently offer free 45 minute consultations at the jewelry shows to help retailers get their act together and establish a plan of “Intention” to get the store on track.
It’s my “Intention”, and the intention of great industry publications like this one, to help independent retailers become more successful. What have you got to lose?