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Inventory as the #1 Killer in a Jewelry Store


#1

Hi All

Wrote the following email today, we’re going out shopping for
clothes.

Hope this helps put things in prospective.


Prints landscape.

David
David S. Geller
JewelerProfit


#2

Ive been sorting out the inventory for my Etsy store (just basic
wire-wrapped gemstone jewelry), and there was another issue with old
inventory that I thought was important…

… by keeping around old inventory, are you cluttering up your
display cases (or website) with items that “kinda suck”? When pple
look at your display case, do they see an array of goodies that all
"look really cool/pretty/stunning/whatever", or do they look at your
display case and see “bleh, bleh, bleh, oh that ones okay, bleh,
bleh, theres another one thats okay, bleh, bleh”.

By “bleh” or “kinda suck”, I dont mean its an ugly or badly made
piece of jewelry. Why its “bleh” for your customers really depends
on what kind of customers you have and what theyre looking for.

rita.


#3

Unwrap it & remake it if its been on display more than 3 months…[]
But if it’s taking time, tarnishing, cleaning alone is a waste of
time when you look at the whole overhead of your costs in relation to
your price points. Are you making what you need for it to be a viable
business, even on etsy…By the way look at the number of sites or
shops on Etsy and get their rankings, then see where you fall in the
herd- then consider melting the wire down into silver or gold ingots,
sending in to a company that will give you a return in wire or sheet
and making a different kind of jewelry that everyone else isn’t
trying to sell. The truth is sometimes hard when its something you
enjoy doing, but financially is it your sole support/? is it giving
you back at least 2. 5 x what you put into it in materials and time
and overhead ( studio costs- whether the studio is a kitchen table or
crafts room) and if most of your inventory is sitting there more than
3 months it isn’t in the right market, or your market isn’t
intrerested in that style of jewelry- so think about all those things
when considering whether or not to go ahead or learn a new skill set
to increase your offerings.