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Strategic Retail Store Stock: Popular Sterling Silver Objects

While no one has a crystal ball when it comes to figuring out what consumer will want a year or two years from now, retailers do have a few ways to make an educated guess based on a few fundamental factors. Even new retail store owners can safely predict which popular sterling silver objects will be difficult to keep on the shelf if they take some time to study their customer base. Top selling sterling silver isn’t an exact science, but it isn’t a game of chance either. Finding the best silver items for retailers can be as easy as partnering with a reputable manufacturer or making a move to white label sterling silver products.

Location, Location, Location

For brick-and-mortar retailers, the location of your store can play a big part in the type of products that sell the most. One example would be a gift shop located near the beach. While you might get a lot of tourists, you’ll also get locals stopping in to buy presents for family members throughout the year. Locations that are near the ocean, a lake, or the sea, are often popular spots for nautical items. A nautical charm bracelet, a silver, and enamel piece, or maybe something custom or even white label sterling silver might help your store to stand out from all of the rest.

Other examples might be a men’s department store that is in a big city near an area where a lot of high-level businesses are located. In addition to suits, briefcases, and other typical executive items, you might also want to stock silver items for retailers that would appeal to this local demographic. Popular sterling silver objects for this market might include exquisite desk items, such as stamp boxes, business card holders, bar sets, cufflinks, and pocket watches. You might also do well to stock top selling sterling silver photo frames for these executives to use to display photos of their families at work. When you start to think outside the box while targeting your local market, the direction can become apparent.

It Takes a Village

The type of community that your store serves can also provide telltale signs as to the best options of silver items for retails. You can find out specific census information about your city or county online via the Wikipedia pages. They outline the average income for the area, along with other essential data. Average ages, marital status, children, education, employment status, the number of homeowners, and other surprisingly helpful information can assist in figuring out what your customers might be able to afford. Estimating the price points for certain items can ensure that you don’t end up with products no one has the money to buy or that you don’t underestimate your customers by only stocking affordable goods.

Look to other stores in your local area that also cater to a similar demographic. This can help you have a greater understanding of the price points that you want to stick with throughout the year. While big-ticket items can make an appearance during the holidays, including custom or white label sterling silver jewelry and keepsakes, you might want to reduce the number of expensive options during other times of the year. If you are new to the community, you may want to take a few months to assess the needs, interests, and preferences of your customer base before investing in popular sterling silver objects for retail.

Your Current Customers

Who are you selling to right now? What do they ask about when they come to your store? What items sell the most? It pays to keep track of what your customers buy, how much they spend, and even things like how often they shop at your store and things that they request. Getting a feel for your customers is a hands-on proposition. It is something that you need to work at on a day-to-day basis, compiling data that can be used to offer a clear picture of where you are at right now and where you are going in the future. The more you can learn about who already shops at your store, the easier it will be to market to prospective customers and get them to come in and make a purchase.

If you would like to explore your options for custom silver items for retailers or white label sterling silver opportunities, contact JT Inman Company. Since 1882, we have worked hard to earn a solid reputation for providing top selling sterling silver objects to our customers all across the country and around the globe. Our popular sterling silver objects are excellent sellers all year round. Give us a call at 508-226-0080 and speak with one of our agents about your needs for quality, fine sterling silver products.