#1. Data Based Decision Are The Best Decisions
Period. We’ve now reached a point where there’s pretty much nothing left that we can’t track with a little bit of effort and technology. From walking patterns around the store to number of views per display, product, average view times etc. etc. etc. that can be coupled with customer segments to other broader indicators like foot traffic and seasonal variations in store visits.
And that’s only “soft” data that can you can extract various insights from. Couple that with more detailed data on sales and you’ll surely be able to devise merchandising tactics that have a clearly positive impact on your bottom line and make your customers happier.
#2. Out With The Old, In With The New
Merchandising revolves around…well…your merchandise and while it may seem common sense, many jewelry stores are not rotating their products often enough.
#3. Making The Most Out Of Available Space
“Consider the total space of the store and how few square feet are taken by display cases. In general, most stores lose 40 percent of total space due to aisle ways, doorways, office space, back rooms, facilities, etc. Total jewelry product display case space can often only take up as little as 10 percent of the store’s total square footage. In an effort to show as much inventory as possible, some stores put too many items into showcases. The result too often leads to visual confusion. There are too many points of information vying for shoppers’ attention. When shoppers do not engage in displays be sure confirm if there was a strong focal point and key areas of interest to guide them through the display. Visual merchandisers can visually guide shoppers from one item to another by using basic design theories.”
#4. Evenly Distribute Jewelry By Popularity
A neat trick is to avoid grouping all the best selling items into one area, which might seem like a natural impulse to some. Every main display case and every area of your store should hold “hidden gems”, which can act as an engaging factor to keep customers looking at more merchandise and going through the whole store, not just stopping at a central point and getting decision paralysis because they are suddenly presented with too many very attractive offers.
Not grouping best selling items together will also help diminish the negative impact of choice paradox. In the end, the customer will turn back to a specific display that held that one item and will make the purchase decision easier.
#5. Have You Considered Mannequins?
#6. Always Involve Your Store Staff
#7. Leverage Jewelry Brand Displays
Chances are you are selling a few items from renown brands .
“You may have some amazing creative minds on your staff and not even know it. This is more of a personnel issue than a promotional issue. Utilize your staff and find out their creative abilities. Chances are you have someone on your staff who already would like to work on merchandising. Find non-monetary incentives to offer as an award for their work. Ask a jewelry expert, we can help identify these employees.”
#8. Don’t Be Afraid Of Color Blocking
You’ve surely heard of color blocking. If you have an established color palette for your store, you can choose different colors for different display sections, colors that make the products stand out. Also, if you can’t pull that off, there’s always the option to use various props that stand out. Jewelers and store owners have been using all kinds of props, from stylish champagne glasses (yes, it’s overdone, but it looks great, especially when it comes to selling engagement rings and wedding bands) to books and paintings and even natural elements like flowers, pine cones etc.
The easiest way to use color blocking is to experiment with the “compare & contrast” technique between products in the same category. Color blocking aside, don’t be afraid to experiment with colors and try new things – just don’t overdo it. Sometimes that fine line between colorful and candy store seems a bit blurry.
#9. Do You Have A “Merchandising Calendar”?
Visual merchandising is a never ending process. That’s why it’s great to have a calendar where you can map out the most important events or overhauls in terms of replacing / refreshing display windows, preparing for new products and campaigns and so on. Otherwise, it’s easy to get to the point where you focused on other things and realize the window display is totally out of date and it isn’t attracting eyeballs anymore.
A good rule of thumb is to try and refresh your displays and improve product placement at least once a month, but that needs to be in sync with any other relevant events, like holidays, busier periods, campaigns your company is running, new product lines etc., so it might get quite hectic!
#10. Cleanliness Is Next To Godliness
#11. Never Stop Hunting For Props
Yes, Etsy is a good place to look for all kinds of creative props & items you can use to create amazing displays.
#12. Don’t Neglect The Small Details
- POP Materials
- Product Tags & Labels
#13. Always Look For Inspiration
#14. The Big Guys Are Big For Some Reasons
They pretty much know what they’re doing. While it pays off to “do things differently” and set yourself apart from time to time, it also pays off to take a good look at what the big brands are doing and what they value most in terms of best practices.
#15. Good Lighting Is Vital
#16. Does Your Store Smell Great?
#17. Is Your Playlist Stuck In 1999?
“Never going to give you up” is a great choice, but as long as you play any kind of music in your store, you need to consider that it should fit with the mood and your playlist should be either up to date or filled with classics that go well. Holiday music
#18. Less Is More
Remember that many times, 20% of the products bring in 80% of the revenue. Pareto’s Law applies to an amazing number of things in business. And life.