Sales Strategy

Expanding Your Product Line: Insights from a Successful Jewelry Retailer February 23, 2023 (0 comments)

Port Talbot, Wales--Giftware retailer, Selections, has shown that diversifying a product line with jewelry can be lucrative. Richard Jones, the store owner, shared his insights in a report on how he successfully expanded into the jewelry market.

[Image via Springfair]

Three years ago, Selections started by stocking the Nomination brand after one of Jones' staff members wore a Nomination bracelet to work and received many inquiries about it. He decided to start stocking the brand, and it sold out quickly. Today, Selections also stocks Gecko, Clogau, and Joma.

Jones staggered the roll-out of different brands due to the significant investment required to bring them in. The spend required to become a Nomination and Clogau stockist is around £15,000, while Gekko comes in at around £4,000.

Jones emphasized in the report that it is essential to stock a variety of brands that appeal to different budgets and styles of customers. Selections are careful not to have too much jewelry retailing over the £100-£150 price bracket because Port Talbot is not an affluent town.

Jones chose to display the jewelry at the front of the shop, so it is front and center. Selections' other ranges include giftware and cards, which are positioned at the back of the shop. The jewelry is displayed in secure cabinets that show off each brand.

Jones is content with his product mix but is open to adding new brands if the right one comes along. Learn more about how he's approached diversifying his store to sell jewelry in the report.