Maximizing Costume Jewelry Sales in Thrift Stores
A little creativity can generate a lot of sales
There is so much reaction to my last article about this small but mighty category I’ve added a second installment. This one is focused on selling jewelry that doesn’t make the e-commerce cut.
One tricky balance is keeping an inviting selection in stores while taking goods for eCommerce. If Columbia jackets and expensive musical instruments go away that is one thing. Eliminating an entire category of goods that are donated in abundance is something to think about.
Even with a robust eCommerce jewelry operation, there are ways to serve retail customers as well.
Some suggest selling all costume jewelry online in bulk boxes. That is a quick and easy way to move volume. In some ways, it’s like the old glass jar program mentioned in my last article. It was popular with customers but missed a lot of value for the store.
It has been my experience that whatever bulk jewelry sells for online, it will sell for as much in stores. Especially after adding in shipping. Maybe that isn’t true everywhere, it’s worth testing.
Those single piece of customers is still shopping every day. There are several retail store ways to serve these customers, generate revenue, and provide work opportunities after e-commerce pulls out the valuables.
Seasonal
Over the past few years thrift has become a go-to place for Halloween, Christmas, and other holidays. That competitive advantage of unique items can be extended by including donated jewelry.
There is a steady stream of Madi Gras beads and assorted party jewelry coming in every day. Large heavy crosses and necklaces, skull and crossbones, black jewelry are good examples. When sorters start looking plenty will jump out, just like with textile Halloween saves.
Christmas jewelry works much the same way and is even easier to identify.
Everyday
Then there are the everyday necklaces, bangles, brooches, earrings, and such. When I am looking for thrift answers I often look at what traditional retail and merchandisers do. Why reinvent the wheel?
New costume jewelry is almost always carded and put on a spinner rack or pegged wall. Carded donated jewelry hung on spinner racks or peg walls can be magic for customers and sales.
The picture above was taken at a trade show, it shows a wholesale cost of $1.50 for each piece. We sold them for $3.99. The items on that display were no better than most donated costume jewelry that comes in every day. It just takes some work to get donated retail ready by carding it just like new.
Donated can look as good as new, it is important to be clear with customers which are which.
Sorting
It starts with e-commerce jewelry sorters sorting costume jewelry by type, rings, necklaces, and so on. This speeds up the process of getting it retail-ready. They are already handling it so the investment is minimal.
Carding is a job that can be an excellent work experience program. It’s perfect for someone with limited mobility or any number of other issues. It fits well with the stated mission of many non-profit thrift retail organizations.
Creating jobs like this has been one of the most rewarding parts of my thrift career.
A full carding program provides so many benefits. Retail customers are served well, sales go up, jobs are created and supported by those sales. What’s not to like?
Pricing
Pricing varies a lot around the country so I’ll just suggest starting with whatever new costume jewelry is sold for. It’s easier to go down than up.
Many thrift stores sell new costume jewelry as well as donated. For some reason, it seems to work. The key is being clear with customers which are which. They can complement each other because new will extend the fashion selection beyond what is sometimes available in donated.
Wrapping Up
Making the most of donated jewelry can be a lot of work to set up. From capturing valuable items to sorting and carding everyday goods to selling damaged goods. Once up and running the payoffs can be substantial. This little category can serve a broad array of customers and participants while adding sustainable revenue.
I am a thrift and retail business expert located near Chicago. Using my twenty plus years of retail and seven-plus years of thrift retail experience to help small businesses grow and succeed.
You can also find me on LinkedIn, Medium, and my thrift reseller blog The Thrifter.
You might also be interested in my Thrift Merchandising ebook on Amazon. It’s about how to merchandise thrift stores more like traditional stores. It’s free with a Kindle Unlimited membership.
Tim Gebauer