Tips for Selling Retail Supply Sterling Silver to Customers

retail sales tips for selling silver productsDepending on the type of retail store you own or manage, there will likely be a variety of different products with a range of price points for your customers to consider. Pricing in sales is essential to the success of your business and can be a double-edged sword. Mark your items too low, and you could miss out on the revenue and profits based on the value of the products you are selling, but price them too high, and your customers will look elsewhere to get the things that they want. High-ticket sales for expensive products, such as quality jewelry, collectibles, gifts, and keepsake objects, can be a challenge to achieve if you do not have a lot of experience in this area. Retail supply sterling silver can sometimes fall into this category, especially when you are featuring quality silver items for retail stores in your shop.

How to Sell Fine Sterling Silver

There are certain things that you can do to ensure that you have the edge over local competitors. However, when selling silver online, it can be a bit more challenging. Over time, you will earn a reputation for having quality pieces, whether you sell in-store or via a website. Competitors may sell things at a lower price, but they may also be of a lesser quality, which can make it difficult to compare. It is essential that you know the value of your products and that you are able to convey that value to your customers. This can be easier when selling at a brick and mortar shop where you can display, showcase, and demonstrate the value of the items directly to the customer. Online, you might use video, multiple angle photography, and other technology to increase sales of retail supply sterling silver.

Step by Step Guide to Selling Quality Silver Items for Retail Stores

Step One – Know your customers and have an understanding of what they want. If your customers come to your shop to spend less than $25 on gifts or personal items, they probably won’t be the right target audience for marketing fine sterling silver products.

Step Two – Train your team to sell high-value items to customers. Knowing what to say, how to say it, and how to demonstrate or display the items in question will go a long way toward converting the sale. Even the best retail supply sterling silver won’t sell well if you don’t have a plan of action to sell it.

Step Three – Know your competitors and compare apples to apples. Don’t compare some cheap silver-plated jewelry to your fine sterling silver. Gather price information, learn about the quality of the products, and try to get an idea of how much they are selling.

Step Four – Eliminate any competitors who sell low-quality pieces. If they don’t carry quality silver items for retail stores, there’s no use in comparing yourself to them. Make sure your customers know the value of your products, and they will sell themselves.

Step Five – Learn how to talk price AFTER you have already sold the customer on the product. Make sure they know the value of the item, appreciate it, want it, and are ready to buy it before you start talking about how much it will cost. Get the customer to say the price that they want to pay and then offer it, whether that means doing a discount or selling it at full price.

Step Six – Discuss experiences with other customers who have become repeat customers after having a positive purchase with your products. Talk about how they switched from low-quality products to your finer quality items and why it is worth it to pay more for fine sterling silver.

Step Seven – Perfect your sales pitch to increase conversion ratios. Compare your product to other lesser-quality items, talk about the benefits of your product, and convince customers that they should only purchase quality silver items from a reputable shop.

Step Eight – Learn how to close online sales with real-life connections. Speak with prospective buyers on the phone, video chat, or invite them to come into your brick and mortar store. For some shoppers, having this more personal option will seal the deal.

Purchase Quality Silver Items

This is perhaps the best tip of them all. When you showcase quality items of retail supply sterling silver, your customers who know and appreciate the value of those products will recognize them and buy them immediately. All you will need to do is to make sure your items are priced properly, showcased effectively, and sold smartly by your team. If you are interested in learning more about our catalog pieces for selling silver online or in a retail store, contact JT Inman Company by calling 508-226-0080.