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Leslie McGwire: Why is Interior Design Important for Improved Sales? | January 23, 2024 (0 comments)
West Bloomfield, MI--The interior design of a jewelry store needs to take into consideration the inside as much as the outside meaning that it focuses on the exterior façade, the decompression zone, the interior design, the layout, the window display, the merchandising, as well as elements such as the materials, patterns, textures, the lighting and fixtures, the furniture and accessories. Every decision in the design is made to influence the customer behavior and every detail of the store becomes a means to deliver the essence, the story of the brand.
But, while the life expectancy of new construction or remodel interior design lies between six and 10 years, it can be intimidating for jewelers to undertake such work without a clear understanding of its ROI (return on investment). This is why it is very important for the jewelers to communicate the monetary metrics used by the company to measure the store success so that the interior design can be inclusive of those parameters when making strategic design decisions.
Improved sales per square foot:
Jewelry interior designers are specialized in improving the new store’s image and functionality to help increase the flow and physical footprint. The objective is to enhance the store’s productivity by optimizing the use of the space, fixtures, store layout and merchandise while keeping an artistic and creative eye to increase sales per square foot.
Increase retail conversion rate:
Jewelry interior designers aim at redefining, reinventing the brand, creating a sense for individuality and authenticity. The interior design focuses on creating a stronger connection with the customers coming into the store increasing conversion rate by turning customers into buyers. The store becomes an experiential and interactive space where technology and aesthetics merge providing customers with convenience, experience, and personalization. In a post-pandemic climate, this also means providing the customers with a safe environment, a strategic path across the store and product display so the customer feels secure to walk around the store and are encouraged to purchase.
[Safa Jewelers. Photo credit: Leslie McGwire]
Increase gross and net profit:
Through the interior design process, the objective is to offer customers a unique approach in which applying premium prices becomes coherent with the jewelry store environment. The application of premium prices allows the store to increase its margin, which positively impacts its gross and net profit. Jewelry interior designer targets the customers to understand what brings value to them and what their purchasing journey looks like. The interior design not only focuses on the jewelry store’s layout, product displays and light boxes, but they also seek to maximize the space to create valuable upsell and cross-sell for the customers.
Drive new sources of revenue:
Jewelry interior designers are specialists of the industry, always on the top of the latest concepts and trends. They can help jewelry stores to optimize their spaces to create new sources of revenue and introduce them to new retail concepts. For example, an increasing number of stores are investing on modular designs, a design style that transforms a single purpose space into multiple purpose one. See Safa Jewelers picture which is there second store and plan to expand more in the future.
About the Author: Leslie McGwire™ has over 35 years in business development, interior design, equipment, furniture sales and marketing services in retail and jewelry-based businesses. Leslie has won over 25 national design awards, including the prestigious Salon Today and INSTORE Jewelry Store awards. Leslie has a true passion for business, design for the jewelry and retail industries. Visit lesliemcgwire.com for more information.