While some of the purchases that are made of our custom silver objects are for the buyer themselves, a large majority of fine sterling silver products are purchased for someone else. This is especially true during the holiday season when sales of silver items for retail go through the roof. Keepsake items, personal pieces, jewelry, and other types of silver products are in high demand from Black Friday all the way through to the New Year. Many different cultures purchase quality silver items as part of their traditions, so it is essential to know your customers and anticipate the things that they might want to buy so you can have them in stock.
Personal Value and Retail Value
Another unique trait of fine sterling silver products is that they often hold two different types of value: personal and retail. The personal end of things, when it comes to silver items for retail, is when the piece has value because of who gave it to them, the occasion that it marked, and what that moment meant to them. A silver gift box from a grandmother, silver bangles from a fiancé or spouse, a silver photo frame as an anniversary present – the list goes on and on. Silver is also known as a generational metal, as it is frequently passed down from parents to children or grandparents to grandchildren.
The other type of value is retail or monetary value. When you purchase quality silver items, such as fine sterling silver, it holds its value. Silver can be sold or traded easily, as it is considered a precious metal, alongside gold and platinum. Knowledge that the item holds both personal and financial value can make it mean even more to the individual, making them less likely to ever sell it. The circle repeats itself, as the person would be more likely to pass the custom silver objects on to a family member or loved one rather than to sell it or toss it when it is no longer needed. Holiday ornaments, and other decorative pieces, can become a part of a family tradition for many generations.
How to Sell Silver Items for Retail
One of the best ways to sell fine sterling silver products is to learn how to display them properly. Make sure to allow the customer to touch, handle, and hold the piece, as it will increase its value the longer that they remain in contact with it. This can reduce feelings of sticker shock when they compare the prices of the silver items to the aluminum or wood versions. One example is a photo frame. An elegant, sterling silver, engraved photo frame makes the perfect gift for weddings, baby showers, anniversaries, birthdays, and other special occasions. However, a wood or aluminum frame will be a fraction of the cost compared to the silver.
However, the more the prospective buyer handles your silver items for retail, the more they will understand the price and appreciate the value. This is why many silver manufacturers will tell you that the products ultimately sell themselves. You and your team should learn all you can about custom silver objects, how they should be handled, cleaned, and stored. The more information you have about the products you sell, the easier it will be to answer questions, overcome objections, and make the sale. Some retailers even offer a care sheet brochure, sell care products alongside silver pieces, and train their staff on the ins and outs of silver care to help increase sales.
Custom Silver Objects
At JT Inman, we offer a wide variety of fine sterling silver products and jewelry in our online catalog for our retail partners to stock and sell in their stores. We also offer opportunities to create custom silver objects, use white label products, and customize existing items to help your store stand out from the competition. Finding a unique way to present silver items for retail can also help to boost sales and give your store an edge over local competitors. Online sales can be enhanced with video, audio, and social media promotions to give at-home shoppers an idea of what to expect when they purchase quality silver items from your retail store. Give us a call at 508-226-0080 or contact us directly via our online contact form on our website.