How do you store inventory at your jewelry store?
Is your inventory organized? Are you using space efficiently? Are you able to quickly find what you need? Are your most valuable items secure in the event of an attempted theft?
It’s important to consider all of these questions as you make decisions about jewelry inventory storage. Jewelry items are highly valuable, making it essential to store them properly. Effective jewelry inventory storage helps you keep your inventory in good condition, maintain easy access, prevent loss and theft, and improve sales.
In this blog, we’ll provide seven practical ideas to help you optimize inventory storage at your jewelry store. By applying these strategies, you can keep items organized on and off the sales floor.
Vertical storage helps you make the most of your space by freeing up room on the floor. On the sales floor, install wall-mounted displays and tall shelving units. These wall displays also improve visibility throughout your jewelry store.
Because jewelry is a luxury product, customers want to shop for jewelry in a luxurious environment. Make sure your wall displays are made from quality materials that fit in with the rest of your display areas. Glass, wood, and neutral colors tend to be popular for displays.
In backroom storage areas, use tall shelving units or hanging organizers. While visual appeal is less important away from the eye of customers, make sure you use quality materials to prevent damage to jewelry items.
Related Read: Visual Merchandising for Jewelry: 9 Simple Ideas
Organizing all of your inventory may seem like a daunting task, but it’s essential for the easy retrieval of items and to keep your jewelry store running smoothly.
There are a few different labeling systems you can use to sort inventory. These include barcodes, QR codes, and RFID tags. These labels allow you to easily scan an item and bring up its information.
You may pair this with a color-coded label system to separate jewelry into different categories. When items are sorted into logical categories, the shopping experience is easier for the customer. Organize jewelry items by type, material, price, or into other groupings to make store navigation simple and intuitive.
Related Read: How To Organize Jewelry Inventory: 5 Effective Tips
While all of the inventory at your jewelry store is valuable, some items are more valuable than others — and it’s important to store your most expensive items carefully. These items should be placed in locked display cases or safes.
Be intentional and careful with the process of accessing these highly valuable items. Perhaps only a few other employees should know the passcodes to safes, rather than every employee. Establish a secure process so that trusted employees have access and newer, less experienced employees can be assisted with accessing these items if necessary.
Security cameras can also help keep your jewelry store safe and help you avoid the loss and theft of your inventory. You can either buy a complete security system or buy cameras on your own. Choose which option works best for your store.
Related Read: Protect Your Business With These 8 Jewelry Store Security Tips
It’s also important to monitor climate conditions where you’re storing your jewelry. UV rays, high humidity, and rapid temperature fluctuations can cause tarnishing to jewelry. For this reason, try to store jewelry at room temperature, with low humidity, and out of direct sunlight.
Try to keep your sales floor and storage areas at room temperature. If your HVAC system has issues, obtain heaters or fans to keep the temperature at an optimal level.
You can make jewelry inventory transportation easier by using mobile storage units. These large storage units are filled with drawers, shelves, and compartments and have wheels, making them easy to move around your jewelry store.
If you’d like to change your display or restock your shelves, mobile storage units can make these tasks much easier. To keep the jewelry items stored in these units secure, look for mobile storage units with lockable shelves.
The best way to keep track of your jewelry items is with modern digital inventory management tools, which are often included in point of sale (POS) systems. These systems keep track of each item that arrives at and leaves your jewelry store, so your numbers are always accurate.
POS systems allow jewelry store owners to order inventory digitally right from their store. When items are purchased, they can automatically be added to a store’s inventory. When these items are sold, these items can automatically be subtracted. This keeps numbers accurate, and with a few manual inventory counts every once in a while, you can prevent errors and mistakes in your inventory.
Barcode scanners are especially useful with a digital inventory system — a quick scan allows you to pull up an item to see information or facilitate a purchase. As technology advances, you can utilize these advancements to better manage your inventory.
Related Read: Jewelry Inventory System: 3 Top Options for Your Store
Maybe you have a specific vision for your store’s jewelry displays and storage and you can’t find anything in the market that fulfills that vision. If you have the resources, consider investing in custom-built storage.
Look for custom-built items like:
When custom-designed by professional craftsmen, these items can precisely fill available space and help you create the environment you’re seeking at your jewelry store.
While a more expensive option, custom storage solutions help you make the best use of your space, display jewelry items in the best light possible, and create a positive experience for the customer.
As you run your business, you want to sell as many items as you can and help each customer have a great experience — but as you focus on this, jewelry inventory storage may fall to the wayside. However, efficient inventory storage can improve your jewelry store and help your customers.
Well-designed displays, clear organization, and visibility helps your customers navigate your jewelry store. Well-organized backroom storage makes your job easier, helping you to quickly find whatever you’re looking for. By implementing these strategies, you can keep track of each jewelry item and see improved sales.
A solid POS system should be an integral part of your jewelry inventory storage strategy. Your store needs a POS system specifically designed for the jewelry industry: Jewel360.
Jewel360 offers a variety of features for both general retail tasks and jewelry-store specific processes. The software facilitates transactions, keeps track of your inventory, and gives you access to the best suppliers in the jewelry industry.
Schedule a demo today to see what Jewel360 can do for your business!