Maximizing Fashion Accessory Sales: 5 Key Strategies

When running a retail business, finding the right ways to meet sales targets is crucial. Among the most effective strategies, boosting accessory sales often delivers significant returns. Accessories, including both planned and impulse buys, have the ability to adapt and thrive in retail environments. Research indicates that accessories and jewelry will continue to be among the top-selling categories in fashion e-commerce by 2025, with accessories expected to account for 12.3% of purchases and jewelry for 20.9%. But why is this segment so profitable, even during economic downturns? Here’s a look at why accessories are a must-have in your store and how you can boost sales.

Why Do Customers Love Accessories?

Accessories are popular for many reasons, with convenience and affordability being top of the list. Unlike clothes, accessories don’t require trying on, making them quick and easy to purchase. A stylish necklace or trendy scarf is often a more affordable option compared to pricier fashion items like designer jeans. Moreover, accessories make excellent gift choices, appealing to busy shoppers who need something quick but thoughtful. By leveraging these advantages, retailers can use accessories to boost overall store sales. Here are five proven strategies to increase accessory sales in your shop.

Price Accessories to Sell

To effectively price fashion accessories, you should focus on keeping your costs low while still offering high margins. While there is no one-size-fits-all rule, many small retailers apply a 50% markup strategy. For example, if you purchase a bag wholesale for $50, you can sell it for $100. However, working with various accessory vendors can provide opportunities for even higher markups, especially with items priced as low as $1 or $3. Some products can retail for as much as 500% more than their wholesale price. Keep in mind factors like overhead costs, product quality, competitor pricing, and the item’s popularity. Experiment with different price points to find a balance between profitability and sales volume.

Offer a Wide Range of Choices

The key to satisfying your customers is understanding what they want and need. While classic accessories like stud earrings or timeless handbags are always popular, introducing seasonal or trendy items can help drive sales. The post-pandemic period, for instance, may present new opportunities to diversify your offerings. Some analysts predict a rise in demand for luxury items like expensive jewelry and designer bags, which could be a significant revenue source for your store in 2025 and beyond. Offering a variety of products ensures that your customers will always find something fresh and exciting, motivating them to return frequently.

Merchandise Accessories With Purpose

Effective merchandising is essential to increase accessory sales. Many retailers overlook the potential of a sales-driven merchandising strategy. One way to improve sales is by displaying accessories alongside clothing on both hangers and mannequins. This creates outfit ideas that encourage customers to purchase accessories along with their clothes. Additionally, positioning accessories in easily accessible locations can increase customer engagement. Avoid placing them in areas that limit interaction, like under display glass or on high shelves.

Use Conversational Selling to Boost Accessory Sales

Outstanding displays are crucial, but they alone won’t achieve your sales goals. Combine great displays with excellent customer service, and you’ll see significant results. Train your sales team to engage customers with conversational selling techniques, making accessories a key part of the conversation. For example, suggest complementary items such as earrings to go with a new sweater or a stylish handbag to pair with shoes. Knowledgeable staff can introduce customers to products that perfectly match their needs, which can lead to impulse purchases and increased sales.

Ask Questions to Discover What Customers Want

One of the simplest yet most effective ways to increase accessory sales is by asking customers the right questions. If they’re looking for something specific, find out what it is. Are they shopping for a special event or occasion? What trends are they interested in? These questions help your team recommend accessories that match your customers’ needs, boosting the likelihood of a sale. Without asking these questions, your sales team won’t be able to guide customers effectively or suggest the most suitable accessories.

Bonus Tip: Perfecting Your Sales Recipe

To create the ideal strategy for accessory sales, combine all these elements: engaging displays, knowledgeable conversations, asking the right questions, offering a wide variety of products, and focusing on high-margin accessories. Together, these strategies form the perfect recipe to elevate your store’s accessory sales and meet your retail goals.