SUMMER IS A SEASON of opportunity for independent jewelers — a time to refresh your showcases, energize your team, and spark excitement with your customers. Here’s a strategic plan to help you maximize sales, clear aged inventory, and set the stage for a strong Q4.
1. Tackle aged inventory with targeted discounts and incentives. Start by running detailed inventory reports to identify jewelry that’s been in your cases for over 365 days. These slow movers tie up valuable cash and case space that could be better used for new collections and bestsellers. Implement a tiered discount system:
- 30% off for items over 365 days old
- 35% off for items over 500 days
- 40% off for anything older
Create a dedicated “Aged Inventory” case in a prominent location to ensure these pieces get noticed. Clearly label discounts and consider showing dollar amounts saved, not just percentages, to increase perceived value.
Motivate your sales team by offering spiffs or bonuses for selling aged items. Make it a friendly competition with visible leaderboards or rewards.
2. Integrate marketing and digital channels. Coordinate with your marketing team to promote aged inventory across social media posts, email campaigns, and a dedicated sale page on your website. Use high-quality photos and engaging stories to give these items new life and appeal. Encourage your team to share these deals with their networks. The goal: Turn slow movers into summer’s best deals.
3. Build anticipation for new collections. After the Vegas shows, plan a team meeting to introduce all new collections. Build a PowerPoint or collaborate with vendors for training sessions and product knowledge; some brands may provide ready-made materials or videos. This ensures your staff is excited and informed before the new pieces arrive.
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Loop in your marketing department early so they can prepare website updates, social media teasers, and leverage any available co-op advertising dollars from vendors.
4. Engage your community with a July 4th campaign. Summer’s biggest holiday is the perfect time for a themed social media contest. Invite customers to share videos about what freedom means to them and how they celebrate Independence Day. Offer a giveaway — ideally an aged piece featuring rubies, sapphires, or diamonds — to generate excitement and user-generated content.
Highlight the contest across your platforms, use patriotic hashtags, and feature the winner in your store and online. This not only moves inventory but also strengthens your community ties and brand presence.
5. Plan ahead for Q4: August Kick-Off. In September, hold a sales kickoff meeting to outline your Q4 strategy. Announce holiday events, blackout dates, and set clear goals for the team. Review what worked over the summer and get everyone aligned for a successful holiday season.
